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Quarterly Report For The Financial Period Ended 30 September 2018

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 2018

Comprehensive Income

Unaudited Condensed Consolidated Statement Of Financial Position
As At 30 September 2018

Financial Position

Operating Segments Review

Q318 vs. Q317 and Q318 YTD vs. Q317 YTD

Review Performance

Q318 vs. Q317

The Group registered a higher revenue of RM52.7 million, RM4.2 million or 9% higher for the current quarter compared to RM48.5 million recorded in previous year corresponding quarter. The higher revenue was contributed by higher Software & Services and Employment Services. SKIN recorded lower revenue recognition compared to the second quarter due to slower-than-expected progress on the work done.

The Company, and its wholly-owned subsidiary, Prestariang Systems Sdn. Bhd. received Notice of Additional Assessment from Inland Revenue Board for the year assessment 2013-2016 amounting to RM5.3 million arising from the difference in interpretation under the MSC qualifying activities. The Group has fully taken-up this amount, together with the penalty of RM2.3 million in the quarter under review. As a result, the Group recorded lower PBT of RM2.1 million, RM6.3 million lower than corresponding quarter of last year of RM8.4 million.

YTD18 vs. YTD17

The Group's revenue for YTD18 was RM181.4 million, higher by RM33.8 million or 23% compared to RM147.6 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 RM2.6 million or 13% higher than last year mainly due to the flow through of higher Concession revenue which mitigated higher Opex in Software & Services and Education. The Group's current and last year's PBT was RM22.1 million and RM19.5 million, respectively.

Comparison With Immediate Preceding Quarter's Results

Q318 vs. Q218

Review Performance

The Group's revenue for the current quarter of RM52.7 million, RM3.2 million or 6% lower than the preceding quarter of RM55.9 million due to lower recognition of Concession revenue.

The Group recorded PBT of RM2.1 million, RM4.8 million or 69% lower than the preceding quarter of RM6.9 million resulted from flow through of lower Concession revenue coupled by higher Opex. Higher Opex in Software & Services partly contributed by recognition of RM2.3 million tax penalty.

Prospects For The Financial Year Ending 31 December 2018

With all current projects in hand, the Group is expected to perform better in financial year 2018.