Group continues to see growth in margins on demand from market's digital transformation initiatives

IPOH, Malaysia - SNS Network Technology Berhad, an ICT system and solutions provider, today reported a 35.5% rise in profit after tax (PAT) to RM11.94 million for the third quarter ended 31 October 2022 (3Q FY2023) compared with PAT of RM8.81 million in the immediately preceding quarter (2Q FY2023).

The Group registered revenue that increased 17.5% to RM348.84 million in 3Q FY2023 compared with RM296.93 million in 2Q FY2023. For the quarter under review, there was a 25.7% gain in gross profit (GP) to RM29.44 million compared with GP of RM23.43 million in 2Q FY2023 while profit before tax (PBT) increased 29.9% to RM15.28 million compared with PBT of RM11.76 million.

There are no comparative figures on a year-over-year basis as SNS was listed on the ACE Market of Bursa Malaysia on 2 September 2022.

Managing Director of SNS, Ko Yun Hung, said, "We are seeing continuous growth in revenue and profit as well as margins supported by growing demand in the ICT industry by the commercial sector due to the market's digital transformation initiatives as well as the implementation of government's ICT initiatives as part of the digitalisation drive in schools. In fact, more and more organizations will continue to infuse digital technology into every process and function to boost up their million."

"SNS is in a strong cash position at RM89.24 million and we are ready to expand through our online, physical store and commercial channels offering products, services and solutions. The Group's growth and strength is also supported by JOI(R), our in-house brand of devices and solutions catering to the needs of a growing audience of students enabling them to access educational tools and online learning for hybrid environment. We continue to also secure more DaaS projects from both the government and private sectors across all

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