Optimistic outlook for Daythree

Daythree managing director Raymond Davadass

KUALA LUMPUR: Daythree Digital Bhd, which posted a net profit of RM2.3mil in the fourth quarter ended Dec 31, is optimistic about the prospects of the group.

“With the global business services (GBS) industry on an upward trajectory, Daythree is optimally positioned to capture this growth, especially with the Malaysian GBS industry expected to expand from RM24.8bil in 2023 to RM31.7bil by 2027, at a CAGR of 6.3%,” the GBS provider said in a statement.

“This promising outlook is mirrored in Daythree's strategic investments and utilisation of the RM33.1mil raised from the successful listing on the ACE Market of Bursa Malaysia,” it added.

For the financial year ended Dec 31, 2023 (FY23) Daythree posted a record-breaking revenue of RM89.9mil, up 38.1% over last year's (FY22) total of RM65.1mil.

Its net profit rose 22.6% to RM7.6mil in FY23 from RM6.2mil in FY22/

In January 2023, Daythree received approval in principle from MIDA for the tax exemption of an additional five-year term to Feb 15, 2027.

This exemption however will only apply upon the gazetting of the relevant tax exemption provisions, and until that time, statutory taxation remains in effect.

"We continue to prioritise understanding our clients' unique challenges and crafting tailored solutions to drive their success. We believe that through our consultative approach, we will not only attract new partnerships but also offer long-term relationships built on mutual growth and prosperity,” managing director Raymond Davadass said.

"As a technology-driven company, we remain committed to innovation, focusing on embedding cutting-edge technologies into our services to boost efficiency and reduce reliance on manual labour for low-value tasks. Our dedicated digital transformation team continues to seek new ways to streamline processes, eliminating wastage, and enhancing value for our clients."