KUALA LUMPUR, May 15 (Bernama) -- Prestariang Bhd's (Prestariang) net profit rose to RM9.02 million in the first quarter ended March 31, 2018 (1Q18) from RM3.22 million recorded in the previous corresponding quarter of 2017.
Revenue also increased 66 per cent to RM72.75 million during the period under review from RM43.89 million.
In a statement today, Prestariang said the higher revenue was mainly contributed by the group's technology division, in particular the concession revenue of Sistem Kawalan Imigresen Nasional (SKIN) project and contributions from its software and services division.
"The revenue recognition for SKIN is based on the stages of completion at the end of the reporting period."
"SKIN contributed 36.7 per cent of revenue for the reporting quarter and software licensing and distribution providing the majority of 57.5 per cent, while the rest comes from training and certification and the University business," it added.
Coupled with all current projects in hands scheduled for execution, the group is expected to perform better in financial year 2018.....