KUALA LUMPUR (May 25): Focus Point Holdings Bhd's net profit rose 5.79% to RM6.03 million for the first quarter ended March 31, 2023 (1QFY2023) from RM5.7 million a year earlier, on the back of higher revenue.

Earnings per share rose to 1.31 sen from 1.23 sen in 1QFY2022, according to the group's bourse filing.

Focus Point declared an interim dividend of 1.5 sen per share, to be paid on June 30.

Quarterly revenue increased 14.97% to RM59.67 million from RM51.9 million previously, mainly attributed to its optical and related products segment.

The segment recorded revenue of RM48.51 million, a 14.97% increase from RM41.82 million in 1QFY2022.

Meanwhile, revenue from its franchise segment rose 11.46% to RM1.07 million from RM959,000 due to higher royalty fees.

Focus Point expects more inbound tourists to Malaysia from the lifting of travel restrictions that will boost retail sales.

“Moving forward, the group will continue to expand its outlets in strategic locations and prioritise on operational and cost efficiencies to sustain the growth momentum,” it added.

Focus Point's share price closed 0.5 sen or 0.65% lower at 76 sen on Thursday (May 25), giving the group a market capitalisation of RM348.81 million.