Censof's FY22 net profit eases to RM18.44mil, revenue rises 25%

KUALA LUMPUR: Censof Holdings Bhd's net profit for the financial year 2022 (FY2022) ended March 31, 2022 eased to RM18.44 million from RM26.60 million in the preceding year corresponding period.

However, revenue grew 26 per cent to RM110.0 million from RM87.36 million previously, mainly driven by a higher contribution from the financial management solutions for government (FMS-G), and financial management solutions for commercial and small and medium enterprise (FMS-C & SME) segments.

"Revenue was further enhanced by a contribution from the newly set up Digital Technology (DT) segment, upon the acquisition of a robotic process automation (RPA) business under Cognitive Consulting Sdn Bhd during the year," it said in a statement.

The technology holdings company specialising in financial management software solutions said revenue from the DT segment was solely derived from cloud computing services, electronic tendering services and RPA.

Censof said its financial position as at March 31, 2022 remained healthy with cash and cash equivalents of RM30.0 million.

Net assets per share attributable to ordinary equity holders of the company was 17.84 sen.

"We are delighted that Censof has achieved yet another set of satisfactory full year results for FY2022 despite a challenging year.

"The accounting software and solutions have once again proven its resilience and growth potential. Our fourth quarter yet again remains our strongest quarter with higher revenue recognised from the FMS-G segment," said the group.

While aligning itself with the government’s positive digitalisation transformation agenda, particularly on cloud-based financial solutions and applications, Censof will continue to explore investments and partnership opportunities in the digital technology field to further innovate its products and solutions.

"We will also pioneer the adoptions and compliances of advanced technologies besides offering the latest accounting standards to our large customer base, including the commercial and SME sectors,” group managing director Ameer Shaik Mydin said. - Bernama