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欧博手机版下载:Kronologi Asia remains cautiously optimistic over coming quarters

欧博手机版下载:Kronologi Asia remains cautiously optimistic over coming quarters

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KUALA LUMPUR: Kronologi Asia Bhd's earnings performance has been below expectations, but there is a case for optimism amid signs of China's economy reopening and healthy take-up of the group's services.

The provider of enterprise data management technology and solutions announced on Wednesday its net profit in 2Q ended July 31, 2022, had fallen 39.2% year-on-year (y-o-y) to RM3.1mil as revenue contracted 15.28% to RM63.13mil.

Earnings per share fell to 0.44 sen from 0.82 sen in the same quarter last year.

However, Kronologi CEO Edmond Tay said the group could be seeing a pick-up in customer demand over the next two quarters.

"The group’s performance during the last quarter and throughout this fiscal period was weaker than our initial expectations.

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"We however, remain cautiously optimistic that signs of economic reopening in China and continued healthy take up of our consumption (pay per use) and subscription (as-a-service) models will power the group’s performance for the second half of FY2023," he said in a statement.

For the six months period to July 31, 2022, the group reported a net profit of RM5.32mil on the back of revenue of RM120.46mil.

The majority or 40.3% of the revenue was recognised from Singapore, amounting to RM48.54mil, followed by China and Philippines which combined recorded 46.4% or RM55.86mil.

By product category, the enterprise data management (EDM) infrastructure technology segment continued to dominate the group’s revenue, amounting to RM91.34mil or 75.8% of total revenue, with EDM As-A-Service making up the balance.

The group added that ongoing macroeconomic, higher costs of doing business and geopolitical uncertainties resulted in slower technology-led deployments as well as commercial and production delays.


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