PRESTARIANG 2QFY17 RESULTS SOARED ON THE BACK OF PROGRESS IN TRANSFORMATION
• Records highest quarter revenue of RM55.2 million
• Reports higher Profit Before Tax and Profit After Tax of RM7.2 million and RM5.9 million respectively
• Declares second interim single-tier exempt divided of 1.00 sen
CYBERJAYA, 24 August 2017 - Prestariang Berhad (“Prestariang” or the Group”) today announced its second quarter results for financial year 2017 (2QFY17) charting the highest quarter revenue of RM55.2 million being recorded since its listing. This represents an increase of 13.1% compared to its previous year corresponding quarter. The revenue contribution was reflective of the Company’s current core business in Software & Services under its Technology Platform formed as part of the Group’s transformation plan.
The Group’s Profit Before Tax (PBT) and Profit After Tax (PAT) for the quarter also recorded increases of 44.0% and 59.4% at RM7.2 million and RM5.9 million respectively. Profit for the quarter improved from previous corresponding quarter due to positive performance from both Academy and Education businesses under the Group’s Talent Platform. In particular, student intake for University Malaysia of Computer Science and Engineering or UNIMY has seen improvements after it was rebranded as the Digital Technology University.
Overall, the reporting quarter results have given rise to the Group’s Earnings Per Share (EPS) of 1.20 sen.
The Group’s transformation into Technology and Talent Platforms is still taking shape. More recently, the Group inked its 15-year Concession Agreement with the Ministry of Home Affairs for the Government of Malaysia to implement Sistem Kawalan Imigresen Nasional or SKIN. 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. As part of its new business alignment, the Group is also currently building the next-generation integrated education platform called EduCloud. This single services-based platform to empower education, entrepreneurship and e-commerce is scheduled to be launched sometime before the end of 2017. Prestariang together with its partners for EduCloud are currently in active customer engagement to identify specific initiatives within the Malaysian higher education space. A committee has been formed to initiate pilot initiatives to showcase digital campus, cloud computing in higher education and e-commerce talent development for the first pilot rollout.
The Group’s core competencies under its transformational business will allow it to leverage operations across sectors to drive recurring income as an entity that breeds hybrid technology within the digital economy.
The Board of Directors has also declared a second interim single-tier exempt dividend payout of 1.0 sen per share totalling RM4.8 million for the reporting quarter. The interim dividend will be paid to the Group’s eligible shareholders on 20 September 2017 with the ex-entitlement date on 8 September 2017. For the record, a total dividend of 26.15 sen per share amounting to RM126.4 million has been declared by the Group since its listing in July 2011.