Kronologi Asia's net profit surged to RM23.77mil for FY22

NST Tue, Mar 29, 2022 06:10pm - 3 months View Original


In a statement today, the hybrid and cloud enterprise data management (EDM) technology and solutions provider said the better financial performance recorded for FY22 had reflected a successful strategic trajectory for its enterprise EDM and As-A-Service b

KUALA LUMPUR: ACE-listed Kronologi Asia Bhd's net profit surged to RM23.77 million during the full financial year ended January 31, 2022 (FY22) from the RM1.42 million recorded in the same period in FY21.

Its revenue in FY22 increased 16 per cent to RM308.01 million from RM265.49 million.

In a statement today, the hybrid and cloud enterprise data management (EDM) technology and solutions provider said the better financial performance recorded for FY22 had reflected a successful strategic trajectory for its enterprise EDM and As-A-Service businesses for hybrid and cloud segments.

"Delivering record results after a strong fiscal year of FY22, we have made significant progress in serving our customers and generating substantial growth," chief executive officer Edmond Tay said.

"The strength of our core business has enabled us to accelerate our investments toward enterprise deliverables – transforming the way we deliver our As-A-Service offerings and supporting an expanding number of domain-specific cloud services."

Meanwhile, Tay said its China associate's successful acquisition and integration in FY22 has been transformational.

"The enlarged company has enabled greater operational synergies, which has led to record growth in customers, revenue, and profitability," he said.

Tay said coupled with increasing demand for the company's As-A-Service business by new and existing customers, Kronologi can continue accelerating its business through increased investments in services.

"While we take cognisance of the current Covid-19 situation, we remain optimistic that these will drive the group's growth in FY23 and well into the digital era where 'Data is the New Gold'," he said.

For the fourth quarter (Q4), Kronologi's net profit increased 15.4 per cent to RM6.59 million from RM5.72 million, while revenue improved 0.7 per cent to RM99.53 million from RM98.81 million.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

KRONO 0.450

Comments

Login to comment.