Business News

Published: Wednesday April 24, 2013 MYT 12:00:00 AM
Updated: Friday April 26, 2013 MYT 12:39:50 AM

Redtone International Q3 earnings surge 800% to RM3.92m

KUALA LUMPUR: Redtone International Bhd's earnings surged 800% to RM3.92mil in the third quarter ended Feb 28, 2013 from only RM427,000 a year ago mainly due to the increase in data revenue.

It said on Wednesday the better performance was due to the divestment of non-core and loss making business within the group as well as higher data revenue.

Redtone's revenue rose 71% to RM40.47mil from RM23.57mil. Earnings per share were 0.82 sen compared with 0.1 sen.

For the nine-months period, it posted net profit of RM9.90mil compared with net loss of RM324,000 in the previous corresponding period. Its revenue rose 16.1% to RM97.83mil from RM84.24mil.

"For the current financial year ending May 31, 2013 (FYE 2013), the board has put in place a few strategies to further improve the group's profit.

"Data and broadband services, which includes the group's approximately 4,500 Wifi hotspots, will continue to be the main contributor to the group's profit for FYE 2013, while the voice business segment will continue to be the group's cash cow," Redtone said.

Tags / Keywords: News, Business, Redtone International, earnings, data revenue, Business

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