ITMAX System Berhad (ITMAX) reported a revenue growth of 19.0%, reaching RM42.6 million compared to Q4FYE2022. The Group’s profit before tax (PBT) and profit after tax and minority interest (PATAMI) were RM21.7 million and RM16.7 million respectively, which translated to an increase of 15.3% and 30.5%.
ITMAX, which is involved in the supply, installation, and provision of public space networked systems, today (Feb 26) announced its results for the fourth quarter (Q4FYE2023) and full financial year ended 31 December 2023 (FYE2023).
As for the full year, ITMAX reported revenue of RM149.7 million, marking a growth of 39.5%. The Group’s PBT and PATAMI were RM82.3 million and RM63.3 million respectively, which translated to a growth of 46.2% and 55.7% respectively as compared to the preceding year.
The robust set of financial performance was attributed to the digital infrastructure solutions segment, as well as the supply, installation and maintenance segment, which marked revenue growth of 27.5% and 72.1% respectively compared to the preceding year.
The Board of Directors has declared an interim single tier dividend of 1.2 sen per share in respect of FYE2023.
The entitlement date is fixed on 14 March 2024 and payment will be made on 25 March 2024. The total dividends declared to date for FYE2023 is 1.2 sen per share, an increase from FYE2022’s 0.8 sen per share.
ITMAX System managing director/chief executive officer William Tan Wei Lun said, “We are pleased to announce robust financial results for 2023. Our steadfast dedication to innovation and excellence in providing public space networked systems and smart city solutions has propelled growth across all key metrics, demonstrated by the extensions of existing contracts for our successful live model in Kuala Lumpur city centre that has led to multiple contracts win in Johor over the past year.”
“Looking ahead, we are poised to capitalise on opportunities for expanding our geographical reach across Malaysia by leveraging on the increasing demand for smart city solutions driven by public and private sector initiatives. We are cautiously optimistic about our future prospects and are confident in our ability to deliver value and drive sustainable growth in the long term. This confidence stems from our advantageous position as an end-to-end service provider, supported by our strong in-house research and development division that is continuously evolving,” he added.
