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Quarterly Report For The Financial Period Ended 30 September 2017

Financials Archive

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Unaudited Condensed Consolidated Statements Of Profit Or Loss And Other Comprehensive Income
For The Third Quarter Ended 30 September 2017

Comprehensive Income

Unaudited Condensed Consolidated Statement Of Financial Position
As At 30 September 2017

Financial Position

Operating Segments Review

3Q17 vs. 3Q16

Review Performance

The Group registered a higher revenue of RM48.5 million for the current quarter compared to RM17.8 million recorded in previous year corresponding quarter. The higher revenue of RM30.7 million or >100% increase was mainly contributed by recognition of revenue from Sistem Keselamatan Imigresen Nasional ("SKIN") project. The recognition of the revenue is in accordance of IC12 - Service Concession Arrangements and based on the percentage of work completion.

The Group's PBT for the current quarter was RM8.4 million, >100% higher than the corresponding quarter of last year, due to flow through of higher revenue generated during the quarter, mainly contributed by the SKIN Project.

YTD17 vs. YTD16

The Group's revenue for YTD17 was RM147.6 million, higher by RM40.2 million or 37% compared to RM107.4 million in YTD16. The YTD revenue was higher than last year due to recognition of revenue to SKIN Project and better contribution from existing segments i.e. Software & Services and Academy.

The Group's PBT increased by RM9.7 million or 99% higher compared to previous year mainly due to better performance by the Education and Employment Services segments and recognition of profit by SKIN project. The Group's current and previous year's PBT was RM19.5 million and RM9.8 million, respectively.

Comparison With Immediate Preceding Quarter's Results

Q317 vs. Q217

Review Performance

The Group's revenue for the current quarter of RM48.5 million, RM6.7 million or 12% lower than the preceding quarter of RM55.2 million. The lower revenue recorded in the current quarter was due to lower contribution Software & Services.

The Group recorded higher PBT for the current quarter of RM8.4 million an increase of RM1.2 million or 17% higher than the preceding quarter of RM7.2 million. The higher PBT was mainly contributed by contribution from Concession segment.

Prospects For The Financial Year Ending 31 December 2017

With the commencement of the implementation of the project SKIN and continuous improvement of the operational efficiencies of existing businesses, the Group is projected to perform better for the financial year ending 2017.

In line with Prestariang Berhad's strategic direction, the Group has embarked into new transformational business namely EduCloud to drive sustainable growth and profitability.