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VSTECS Posts 16.4% Increase in 9 Months PBT
Focus Malaysia 08 Nov 2019 13:39

VSTECS Berhad (formerly known as ECS ICT Berhad) (VSTECS, 偉仕佳杰; Reuters: VSTE.KL) (“VSTECS” or “The Group”), Malaysia’s leading Information & Communications Technology (“ICT”) distributor, today announced its nine (9) months financial results for the third quarter ended 30 September 2019 (“Q3FY19”) posting a 6.2% increase in revenue to RM1.26 billion compared to RM1.19 billion in similar period of the preceding year.

The Group’s nine (9) months Profit Before Tax (“PBT”) and Profit After Tax (“PAT”) increased by 16.4% and 15.6%, to RM25.4 million and RM18.9 million as compared to RM21.8 million and RM16.3 million recorded in 9MFY18, respectively.

All three business segments showed improvement in performance for Q3FY19 as compared to Q3FY18. The Group’s ICT distribution segment contributed RM309.7 million to total revenue, an increase of 1.1% as compared to RM306.2 million for Q3FY18. The Enterprise Systems segment posted RM135.5 million for Q3FY19, an increase of 12.1% as compared to RM120.9 million last year. The Group’s ICT Services segment increased by 57.2% at RM14.3 million for Q3FY19 as compared to RM9.1 million in the preceding year.


Financial Summary (Unaudited Consolidated Results)

RM’000

Q3FY19

30.09.19

Q3FY18

30.09.18

Change (%)

9MFY19

30.09.19

9MFY18

30.09.18

Change (%)

Revenue

459,572

436,211

5.4

1,260,188

1,186,219

6.2

GP

24,816

24,111

2.9

64,994

62,259

4.4

PBT

10,702

10,218

4.7

25,351

21,776

16.4

PAT

8,257

7,666

7.7

18,859

16,321

15.6

Basic EPS (sen)*

4.6

4.3

7.0

10.5

9.1

15.4

Weighted average number of ordinary shares (‘000)

179,222

180,000

 

179,737

180,000

 


Chief Executive Officer of VSTECS, Mr. Soong Jan Hsung
 said: “We are excited to see a healthy growth in PBT for 9MFY19 and our newly acquired associate company ISATEC Sdn Bhd contributed RM1.1 million to our bottom line.  Our performance year-to-date is a good representation of the trajectory for FY19 and we expect a few more large projects to be completed by the end of the year.”

“We are constantly expanding our retail business by increasing the number of ICT principals and products. For the Enterprise Systems and ICT Services Segments, we have experienced increased activities from corporations and the public sector with implementation of IT infrastructure upgrades and software renewals driven by digitalisation and automation initiatives”, Mr. Soong added.



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