PETALING JAYA: Digital infrastructure service provider ITMax System Bhd
, which recorded earnings growth for its financial year ended Dec 31, 2024 (FY24), remains committed to expanding its footprint as demand for artificial intelligence-driven digital infrastructure continues to grow.
Its managing director and chief executive officer, William Tan Wei Lun, said the group would continue investing in cutting-edge technology and developing highly skilled local talent.
“Our goal is to shape smarter, more connected cities while delivering sustainable long-term value for our stakeholders,” he noted in a statement.
For the fourth quarter ended Dec 31, 2024 (4Q24), ITMAX recorded a 48.2% increase in revenue, reaching RM63.1mil compared with RM42.59mil in the corresponding quarter a year ago.
Net profit for the quarter grew by 26.6% to RM21.1mil from RM16.67mil in 4Q23.
For the full FY24, ITMAX saw its revenue grow by 47.1% to RM220.2mil from RM149.68mil in FY23, while net profit rose by 27% to RM80.39mil from RM63.28mil previously.
Tan attributed the earnings growth to the digital infrastructure solutions segment, as well as the supply, installation, and maintenance services segment.
“The year 2024 has been transformative for ITMAX, underpinned by multiple contract wins from various city councils—demonstrating the trust in our smart city solutions,” Tan said.
The group has declared an interim dividend of 0.6 sen per share in respect of FY24, bringing the total dividends declared for the year to two sen per share, up from 1.2 sen in FY23.
Notably, the dividend payout ratio of 25% for FY24 exceeds the 20% recorded in FY23.
