Pandemic and travel curbs hit Datasonic Q2 earnings 

KUALA LUMPUR: Smartcards and passport supplier Datasonic Group Bhd said the Covid-19 pandemic and the international travel curb have impacted its business, contributing to lower revenue and profits in the second quarter ended Sept 30.

Net profit fell 46% to RM7.5mil from RM13.86mil a year ago.

Revenue declined to RM43.7mil compared with RM63.5mil previously.

"The existing phases of the Movement Control Orders implemented in Malaysia since March 18 as a result of the coronavirus outbreak particularly on the issue of international travel, is expected to have an impact on the Group's operations," it said.

"The Board expects the prospect for the coming quarters to be encouraging in line with the national economic recovery plans and new business opportunities in the areas of public security, public health and also e-commerce," it added.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3



Did you find this article insightful?


50% readers found this article insightful

Next In Business News

Digital network redesigned to meet higher demand amid MCO
China stocks post biggest drop in over 6 months on policy tightening fears
Japanese shares rack up biggest fall in 6 months as tech shares slide
Allianz gets approval to set up insurance asset management firm in China
Philippine economy shrinks at slower pace in Q4, posts record contraction in 2020
Maybank to spend RM500k to upskill non-clerical employees
UOB Malaysia offers assistance to customers affected by MCO 2.0, floods
IATA calls on governments to work with air transport industry on restart plans
Cathay Pacific raises US$870mil in convertible bonds to shore up liquidity, shares fall
Retail darlings dented after Reddit group briefly shuts doors

Stories You'll Enjoy