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Q118 vs. Q117
The Group registered a higher revenue of RM72.7 million for the current quarter compared to RM43.9 million recorded in previous year corresponding quarter. The higher revenue of RM28.8 million or 66% increase was mainly contributed by Concession revenue of Sistem Kawalan Imigresen Nasional ("SKIN") 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 RM13.1 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.
Q118 vs. Q417
The Group's revenue for the current quarter of RM72.7 million, RM0.8 million or 1% higher than the preceding quarter of RM71.9 million. The higher revenue recorded in the current quarter was due to higher contribution Software & Services and Academy segment.
The Group recorded lower PBT for the current quarter of RM13.1 million, RM5.3 million or 29% lower than the preceding quarter of RM18.4 million. The lower PBT was mainly due to lower revenue contributions from Concession business.
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.