KUALA LUMPUR (Sept 17): Electronic payments firm Revenue Group Bhd saw its net profit for its fourth financial quarter ended June 30, 2021 (4QFY21) fall 65.5% to RM1.28 million from RM3.71 million in 3QFY21 on lower sales of electronic data capture (EDC) terminals, although rental and maintenance returns rose.
This is on the back of a 39.6% quarter-on-quarter decline in revenue to RM17.55 million, as the period under review saw the reimposition of the Full Movement Control Order (FMCO).
On a year-on-year basis, 4QFY21 saw lower sales of EDC terminals. However, Revenue Group recorded higher returns from rental and maintenance of EDC terminals.
The latter, coupled with the more relaxed MCO compared with in 4QFY20, helped lift the group's net profit by 181.7% y-o-y to RM1.28 million or 0.29 sen per share, from RM455,000 or 0.12 sen per share.
But revenue was down 25.2% to RM17.55 million, from RM23.48 million in 4QFY20.
For the full year FY21, the group posted a net profit of RM11.15 million, up 48.4% from RM7.51 million in FY20. As a result, earnings per share was higher at 2.69 sen for FY21 compared with 2.39 sen for FY20.
Revenue also rose by a 11% y-o-y to RM86.96 million from RM78.38 million, Bursa Malaysia filings showed.
On prospects, Revenue Group said the pandemic has prompted it to delay its expansion into Cambodia and Myanmar, opting instead to use its funds raised to purchase new EDC terminals for now.
The group also continues to develop and expand its electronic payment networks, to include quick response payment methods, while working with e-wallet issuers to bring the payment acceptance into digital payment terminals.
Revenue Group share closed up 3 sen or 1.57% at RM1.94 today, valuing the group at RM894.37 million.
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