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Q218 vs. Q217
The Group registered a higher revenue of RM55.9 million for the current quarter compared to RM55.2 million recorded in previous year corresponding quarter. The higher revenue of RM0.7 million or 1% increase was mainly contributed by Concession revenue of Sistem Kawalan Imigresen Nasional ("KIN") project. The revenue was recognised based on the stage of completion at the end of the reporting period. The stage of completion is determined by reference to the proportion of costs incurred for work performed to date over the estimated total costs.
The Group's PBT for the current quarter was RM0.4 million, 5% lower than the corresponding quarter of last year as a result of lower revenue from Software & Services due to the current business environment. The Group forecast the overall financial performance for this segment (especially Government sector) to improve in the subsequent quarters.
YTD18 vs. YTD17
The Group's revenue for YTD18 was RM128.7 million, higher by RM29.6 million or 30% compared to RM99.1 million in YTD17. The YTD revenue was higher than last year mainly due to higher revenue contribution by SKIN project.
The Group's PBT recorded for YTD18 was RM8.9 million or 80% higher than last year mainly due to the flow through of higher revenue contributed by SKIN project. The Group's current and last year's PBT was RM20.0 million and RM11.1 million, respectively.
With SKIN Concession business becomes 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.