KUALA LUMPUR: Infoline Tec Group Bhd posted a net profit of RM3.56 million for its fourth quarter (Q4) ended December 31, 2022, on the back of healthy business growth across segments.

Revenue for the quarter came in at RM28.37 million.

There were no comparative figures for the corresponding preceding quarter's results as this was the fourth interim financial report being announced by the company in compliance with the listing requirements of Bursa Securities.

For the financial year ended December 31, 2022, the company's net profit rose 55.4 per cent year-on-year (YoY) to RM12.12 million from RM7.8 million in the previous financial year.

Revenue rose to RM72.84 million, up 63.4 per cent YoY from RM44.59 million in FY21.

The growth was attributed to growth across segments, particularly with completing and delivering more information and technology (IT) infrastructure and cybersecurity solutions projects towards the send half of 2022.

Out of the total revenue for FY22, the IT infrastructure solutions segment remained the top contributor for Infoline Tec with 63 per cent of the contribution, synergistically followed by 22.7 per cent from cybersecurity solutions and 12.5 per cent from managed IT services as well as other services.

The overall results for FY22 have also considered a one-off expense relating to its listing exercise of RM0.9 million as of December 31, 2022.

Infoline Tec chief executive officer Choo Wei Chuen said the board was pleased to declare an interim dividend of 0.83sen per share, amounting to approximately RM3.0 million or 24.9 per cent of its net profit for FY22.

"With regards to the utilisation of initial public offering (IPO) proceeds, as of February 8, 2023, Infoline Tec has utilised RM13.3 million or 56.1 per cent of the total RM23.7 million IPO proceeds raised in accordance to plan.

"Work progress for the enhancement of our existing network operation centre (NOC), the establishment of a new security operation centre (SOC) as well as the disaster recovery centre is on the right track.

"The company aims to start running our own SOC within the first half of 2023.

"To expand our local and international presence, we have onboarded two engineers and are recruiting more talents to join the team.

"The company has also recently incorporated a wholly-owned subsidiary in Singapore and is actively looking for more projects in the Asia Pacific countries," said Choo.