ECS net profit doubles to RM9.4m

KUALA LUMPUR: Information and communication technology (ICT) provider, ECS ICT Bhd’s net profit doubles to RM9.4mil in the first quarter ended March 31, 2015, from RM4.8mil a year ago driven by strong pre-GST spending and favourable sales mix.

The company said on Thursday that its revenue increased 46.2% to RM522.9mil in the quarter compared to RM357.7mil in the corresponding period a year ago, attributed by steady growth in ICT distribution, enterprise systems and ICT services.

Meanwhile, its earnings per share jumped 92.6% to 5.2sen for the quarter from 2.7sen a year ago.

ECS ICT Bhd chief executive officer Soong Jan Hsung said the company benefited from pre-GST spending on its ICT products and smartphones from consumers and corporations.

However, he believes ICT spending to moderate in the second quarter ending June 30, 2015 as consumers are cautious on post-GST prices.

“Nevertheless, we believe that ICT spending should return to normalcy in the second half of 2015, especially with pipeline launches of new products and product replacement demand,” Soong added.