IPOH, September 29 – SNS Network Technology Berhad (“SNS”), a leading provider of ICT products, services, and solutions, is delighted to report robust financial results for the quarter ending on 31 July 2023. The company’s revenue surged by 12.1%, reaching RM332.88 million compared to RM296.93 million during the same period the previous year, driven by increased sales of ICT products through commercial channels. The group also witnessed substantial growth in profit before tax (“PBT”), which rose by 15.3% from RM10.32 million to RM11.90 million compared to the previous financial quarter.
Likewise, profit after tax (“PAT”) experienced significant growth, increasing by 14.4% from RM7.89 million to RM9.02 million. These increases can be primarily attributed to the expansion of the Group’s revenue from the commercial channel and improved gross profit. Breaking down the revenue for the quarter ending 31 July 2023, the sale of ICT products played a pivotal role, contributing RM328.63 million. Additional revenue came from device repair and related services, as well as broadband services, amounting to RM4.25 million. Geographically, Malaysia remained the primary revenue generator with RM321.35 million.
Singapore contributed RM6.26 million, Hong Kong contributed RM0.45 million, and other markets, including Australia, Brunei, Indonesia, Maldives, and Vietnam, rounded off the remaining RM4.82 million. SNS Managing Director, Ko Yun Hung, expressed his satisfaction with the ongoing growth, especially within the commercial channel, indicating strong confidence in the company’s ICT offerings. He emphasized the significance of the ICT sector in supporting economic and social infrastructure and highlighted the increasing demand for Device-as-a-Service (“DaaS”) subscriptions as a focus area for expansion.
Ko Yun Hung said, “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.” Looking ahead, SNS remains optimistic about the prospects of the ICT industry, with sustained demand for ICT products and a growing customer base. The Group plans to leverage government initiatives aimed at digital transformation and supporting digital education in schools to further its growth.
As a testament to the Group’s commitment to its shareholders, SNS announced a second interim single-tier dividend of 0.25 sen per ordinary share, totaling RM4,031,949, in respect of the financial year ending on 31 January 2024. This marks the fourth dividend distribution from the Group since its listing in September 2022.
