KUALA LUMPUR: Datasonic Group Bhd
will gradually ramp up its production of polycarbonate datapages as demand for passports is expected to remain on an upward trend.
Executive deputy chairman Datuk Abu Hanifah Noordin said the group is also set to commence the delivery of foreign worker cards (i-Kad) this month.
"Our immediate aim is to clear the current backlog as well as new iKad issuance in a timely manner," he said in a statement today following the conclusion of the group’s 15th annual general meeting.
Abu Hanifah added that the group’s prospects continue to be bright, underpinned by its strategic plans and healthy order book of RM339 million as of end-March 2023.
Moving forward, Datasonic anticipates its financial year 2024 (FY2024) to remain challenging amidst elevated market uncertainties arising from ongoing macroeconomic issues.
"Nevertheless, we are resolute in pursuing our strategic plans with prudent management.
"The group has identified promising areas of growth that we can capitalise on to further expand our business," he said.
For its FY2023 ended March 31, 2023, Datasonic’s net profit rose to RM76.37 million from RM10.24 million in FY2022, while revenue increased to RM344.71 million from RM136.43 million previously.
The company has declared and paid total dividends amounting to RM56.7 million, representing a dividend payout of 74.2 per cent of its net profit for FY2023. - Bernama
