CTOS Digital posts improved net profit of RM42.98mil in FY21

KUALA LUMPUR: CTOS Digital Bhd posted a net profit of RM42.98mil in the financial year ended Dec 31, 2021, which was a 9.7% improvement over the result of the previous year.

The credit reporting provider said in a statement that 2021 revenue rose 15% year-on-year (y-o-y) to RM153.17mil owing to healthy growth from all key segments across its divisions.

In the fourth quarter alone, CTOS's revenue rose 12.5% to RM38.79mil from the previous corresponding quarter while net profit dipped 8.6% y-o-y to RM11.78mil.

Over the year, earnings per share was 2.1 sen compared to two sen in 2020.

CTOS declared a third-interim single-tier dividend of 0.33 sen per share, which will be paid on Feb 25, 2022. The entitlement date for the payment is on Feb 10, 2022.

For the full year, the group has declared dividends of 1.183 sen per share or RM26mil, which is equivalent to 60.6% of FY21 profit after tax and minority interests (Patami)

"We have certainly delivered an exceptionally strong performance in spite of the extremely challenging economic landscape in 2021.

"While 2021 was a year of growing both organically and new businesses through synergistic acquisitions, 2022 would be the year of reaping the harvest of these initiatives," said CTOS digital deputy group CEO Eric Hamburger.

He added that there has been a strong U-shape recovery in customer demand and activations in 4Q21.

While expecting the momentum to continue, he also anticipates new contributions from its strategic acquisitions including the 49% purchase of fintech player Juris Technologies Sdn Bhd, which is slated to completed in 1Q22 subject to shareholders' approval.

In light of these plans, Hamburger said the group expects CTOS's normalised Patami to increase about 25% in FY22.

"We are optimistic of our medium to long term outlook, as we build on our strong platform, expand into new verticals, and look for investment opportunities in Malaysia and the Asia Pacific region,” he added.

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