CTOS Digital records higher earnings, revenue

CTOS Digital group chief executive officer Dennis Martin (pic) said its strong growth in the second quarter and the first half of the financial year testified to its resilient business model despite the implementation of various movement control orders in Malaysia

KUALA LUMPUR: CTOS Digital Bhd recorded a higher net profit of RM19.53mil for the six months ended June 30, 2021 from RM15.62mil over the same period last financial year while revenue went up to RM75.80mil from RM64.73 million, with a strong contribution from Malaysian and international operations.

In a filing with Bursa Malaysia yesterday, the company said its net profit jumped to RM11.84mil in the second quarter ended June 30, 2021 from RM7.50mil in the same period last financial year.

Revenue for the quarter increased to RM37.85mil from RM30.65mil year-on-year.

In a separate statement, CTOS Digital group chief executive officer Dennis Martin said its strong growth in the second quarter and the first half of the financial year testified to its resilient business model despite the implementation of various movement control orders in Malaysia.

“We will continue to deliver innovative digital solutions to our extensive key accounts customer base. This is on top of growing our commercial segment through new activations and educating as well as providing the tools for small and medium enterprises and individuals to make informed financial decisions,” he added.

CTOS Digital declared a first interim single-tier dividend of 0.533 sen per ordinary share in respect of the financial year ending Dec 31, 2021, which will be paid on Sept 3, 2021. The entitlement date for the dividend payment is on Aug 6, 2021.

CTOS Digital is slated to list on the Main Market of Bursa Malaysia on July 19, 2021. At an issue price of RM1.10 per share with a market capitalisation of RM2.4bil, it is poised to be Bursa Malaysia’s largest initial public offering year to date. — Bernama