PRESTARIANG 4QFY17 AND FYE17 RESULT SOARED WITH FOCUS ON TECHNOLOGY & TALENT PLATFORM
4QFY17 Revenue and PAT soared over 100% compared to corresponding quarter last year
FYE17 performance realised contributions from SKIN project
Declares fourth interim single-tier exempt divided of 0.5 sen
CYBERJAYA, 27 February 2018 - Prestariang Berhad (“Prestariang” or the Group”) today announced its fourth quarter results (4QFY17) for Financial Year End 2017 (FYE17) with over 100% increase in both Revenue and Profit After Tax (PAT).
The Group registered a higher revenue of RM71.9 million for the current quarter, an increase from RM24.7 million recorded in previous year corresponding quarter. The Group’s PAT for the current quarter was RM8.3 million compared to RM1.6 million recorded in previous corresponding quarter.
The higher quarter revenue of RM48.1 million was mainly contributed by its recognition of revenue from Sistem Kawalan Imigresen Nasional (“SKIN”) project. SKIN also contributed to the higher PAT due to flow through of higher revenue generated during the quarter. SKIN is a comprehensive and integrated national immigration solution aimed at modernising the core applications and infrastructure of the national immigration and border control system. Prestariang Group was awarded the 15-year concession by the Ministry of Home Affairs in July 2017.
Prestariang Group’s performance for the year 2017 saw contributions from SKIN project as well as improvements in existing businesses particularly Software & Services and UniMy, an education arm of the Group. The Group’s YTD17 revenue was reported at RM219.5 million an increase of 66.2% compared to RM132.1 million in YTD16. The Group’s YTD17 PAT was RM24.4 million, more than 100% higher compared to previous year results of RM9.0 million mainly due to better performance in the Software & Services and UniMy as well as recognition of profit from SKIN project.
Moving forward, the Group is expected to perform better in Financial Year 2018 with the implementation of the SKIN project and continuous improvement on operational efficiencies in existing businesses. This is in line with Prestariang Berhad 5.0 transformation plan where the Group will focus on execution to drive sustainable growth and profitability.
In January 2018, Prestariang had received from the Ministry of Finance, an extension of Contract to supply Microsoft software licences, products and services. The extension of Contract under MLA 3.0, besides supplying to all Government Agencies, had included the Institut Latihan Awam as its new customer base with new and added scope of services. This augurs well for the Group.
The Board of Directors declared a fourth interim single-tier exempt dividend payout of 0.5 sen per share totalling RM2.4 million for the reporting quarter. The interim dividend will be paid to the Group’s eligible shareholders on 5 April 2018 with the ex-entitlement date on 14 March 2018.
Prestariang has paid out a total dividend of 27.17 sen per share amounting to RM131.44 million since listing in July 2011.
Inclusive of impairment of assets amounting to RM4.2 million. PAT attributable to Owners of the Company is RM4.334 million and PAT attributable to Non Controlling Interest is RM4.018 million.
PAT attributable to Owners of the Company is RM18.208 million and PAT attributable to Non Controlling Interest is RM6.362 million.