TECHNOLOGY & TALENT INNOVATOR, PRESTARIANG RECORDS JUMP IN REVENUE AND PROFIT AFTER TAX BY 66% AND 181.3% RESPECTIVELY FOR ITS 1QFY18 RESULT
Declare first interim single-tier exempt dividend of 0.5 sen
CYBERJAYA, 15 May 2018 - Prestariang Berhad (“Prestariang” or the Group”) today announced its first quarter results (1QFY18) with 66% increase in Revenue and 181.3% increase in Profit After Tax (PAT) compared to previous corresponding quarter results.
The Group registered higher revenue of RM72.7 million for the current quarter, an increase from RM43.9 million recorded in previous year corresponding quarter. The Group’s PAT for the current quarter was RM9.0 million compared to RM3.2 million recorded in previous corresponding quarter.
The higher reporting quarter revenue was mainly contributed by the Group’s technology division mainly from the concession revenue of Sistem Kawalan Imigresen Nasional (“SKIN”) project. The revenue recognition for SKIN is based on the stages of completion at the end of the reporting period. The quarter revenue also saw strong contributions from its Software & Services division which business remains solid. This resulted in a higher PAT due to flow through of higher revenue generated during the quarter. SKIN contributed 36.7% of revenue for the reporting quarter with Software Licensing and Distribution contributing the majority of 57.5%. The remaining revenue contributions are attained from Training & Certification and University business.
With SKIN Concession business become effective and have officially commenced on 25 April 2018, coupled with all current projects in hands scheduled for execution, the Group is expected to perform better in financial year 2018. Moving forward, Prestariang is confident on the execution of Prestariang Berhad 5.0 transformation plan which has placed the group well in the forefront to drive sustainable growth and profitability in a climate of change.
The Board of Directors declared a first 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 4 July 2018 with the entitlement date on 6 June 2018.
Prestariang has paid out a total dividend of 27.67 sen per share amounting to RM133.84 million since listing in July 2011.
Prestariang is a dividend stock strongly supported by institutional shareholders. The current top 3 substantial holders include KWAP 12.99%, AIA 9.74% and Credor 5.91%.