CTOS Digital posts higher net profit in Q3


CTOS Digital group CEO Dennis Martin (pic) said, “Our key accounts and commercial segments remained resilient with commendable growth despite of multiple lockdowns throughout the year.

KUALA LUMPUR: CTOS Digital Bhd posted a 18.6% growth in net profit to RM31.2mil in the nine months ended Sept 30, 2021, versus RM26.3mil in the similar period ended Sept 30, 2020.

In a statement, the group said this was due to strong revenue growth and inorganic expansions through associates.

For the nine months ended Sept 30, 2021, earnings per share was 1.5 sen (compared with 1.3 sen a year earlier).

Group revenue grew to RM114.4mil, 15.8% higher than RM98.8mil in the nine months ended Sept 30 2020, on the back of strong demand from all three customer segments (key accounts, commercial and direct-to-consumer).

CTOS Digital’s share of associates’ profit was RM5.6mil in the nine months, of which the majority was contributed by Business Online Public Co Ltd (BOL), the leading commercial credit information and riskmanagement provider in Thailand.

CTOS Digital has a 22.65% stake in BOL.

In the third quarter ended Sept 30, 2021 (Q3’2021), the group’s net profit was RM11.7mil, compared to RM10.7mil in Q320.

Revenue grew 13.4% to RM38.6mil in Q321, from RM34mil a year ago.

CTOS Digital declared a second interim single tier dividend of 0.32 sen per ordinary share, with the ex-date on Nov 11 and payment on Dec 10, 2021.

Alongside the first interim single-tier dividend of 0.533 sen per ordinary share paid on Sept 3, 2021, the group has declared 0.853 sen per share or RM18.8mil in dividends for 2021, also equivalent to 60% of the first nine months of 2021 net profit.

CTOS Digital group CEO Dennis Martin said, “Our key accounts and commercial segments remained resilient with commendable growth despite of multiple lockdowns throughout the year.

“Notably, we achieved substantial traction in our direct-to-consumer segment, where revenue nearly doubled in the first nine months of 2021 compared with the year before.

“We look to extend this growth trajectory by extending our on-going financial literacy programmes to increase customer adoption of relevant products.

“With the reopening of various economic sectors in Q4’2021, we anticipate a rebound in customer take-up for our solutions, similar to previous post-restriction periods.

“We will continue to deliver digital solutions to our extensive key accounts customer base.

“We foresee favourable trends in new account activations and positive upliftment of product usage in the commercial space, as we equip customers with the awareness plus necessary tools to make informed decisions,” he added.

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