SNS Network upbeat on ICT industry growth

SNS Network managing director Ko Yun Hung

KUALA LUMPUR: SNS Network Technology Bhd is optimistic about the prospects of the ICT industry, owing to a sustained demand for ICT products and a strong, expanding customer base.

In line with these industry trends, the group plans to leverage on government initiatives aimed at digital transformation and to support digital education in schools.

“The ICT sector remains a strong pillar of both economic and social infrastructure. As businesses increasingly opt for flexibility and cost-efficiency through device-as-a-service (DaaS) subscriptions, we are focusing on expanding this service. This will serve as a catalyst in solidifying our existing customer relationships while attracting new clients,” managing director Ko Yun Hung said in a statement.

The ICT products, services and solutions provider’s net profit rose 2.4% to RM9.02mil, or 0.56 sen earnings per share in the second quarter ended July 31 compared with RM8.8mil, or 2.32 sen a year earlier.

Revenue for the quarter rose 12.1% to RM332.9mil against RM296.9mil previously mainly due to an uptick in sales of ICT products through the commercial channel.

In the first six months to July 31, SNS posted a net profit of RM16.9mil on revenue of RM622.7mil.

SNS has declared a second interim single-tier dividend of 0.25 sen per ordinary share amounting of RM4.03mil in respect of financial year ending Jan 31, 2024, payable on Nov 24, 2023.

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SNS Network , ICT , Ko Yun Hung


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