Censof posts 31% net profit jump in 3Q

Censof Holdings Bhd group managing director Ameer Shaik Mydin.

KUALA LUMPUR: Censof Holdings Bhd’s net profit jumped 31% to RM2.62mil in the third quarter ended Dec 31 (3Q22), from RM2mil posted a year ago.

Revenue, however, fell 10% to RM21.34mil against RM23.73mil a year prior.

The lower revenue was due to the higher project deliverables by FMS-G (Financial Management Solution – Government) segment in the previous year and lower sales demands of ABSS products in the current quarter, especially in the Singapore region.

In the first nine months to Dec 31, Censof’s net profit fell more than half to RM6.51mil against RM14.08mil a year ago while revenue rose 18.6% to RM65.24mil from RM54.97mil previously.

In a separate statement, Censof said its financial position as at Dec 31 remained healthy with cash and bank balances, including fixed deposit and money market funds of RM27.3mil.

Its net assets per share attributable to ordinary equity holders of the company was 16.26 sen.

Group managing director Ameer Shaik Mydin said Censof’s third quarter financial performance had demonstrated a great momentum as it continued to stride till the end of its financial year.

“We have been making significant progress in our plans to capitalise on the industry’s appetite in the adoption of digitalisation by the government and commercial sectors.

“We have been making progress by laying out the foundation to enhance the digital technology market through our joint venture with Cloocus Co. Ltd to develop and operate Microsoft’s cloud management in Malaysia.

“During the quarter, we successfully secured an ‘iPayment’ contract worth RM13.5mil to facilitate cashless payments and collections for all government services by 2022,” he said.