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Demand for passports to remain healthy: Datasonic executive chairman

Publish date: Fri, 01 Dec 2023, 04:18 PM

KUALA LUMPUR: Datasonic Group Bhd expects demand for passports to remain healthy especially in the current quarter.

"The healthy demand for passports is sustaining, which we expect will continue strongly especially in the final quarter of 2023," Datasonic executive chairman Tengku Datuk Seri Abu Bakar Ahmad Abdullah said.

"Our utmost priority remains on ensuring a continuous, timely and high-quality delivery to our clients, aimed at meeting the elevated public demand," Abu Bakar said, when commenting on Datasonic's latest interim results.

Datasonic, he said, would continue to be laser focused on the execution of its strategic plans.

The company's net profit dropped 27.1 per cent to RM18.14 million for the second quarter (Q2) ended Sept 30, 2023 (FY23) from RM24.9 million a year ago.

Group revenue declined 9.8 per cent to RM87.24 million from RM93.63 million a year ago due to fewer passports, smart cards and personalisation services being delivered.

For the full year, Datasonic registered a higher net profit of RM37.2 million against RM36.9 million while revenue increased RM172.1 million from RM157.7 million last year.

Abu Bakar said the company was pleased with the financial results  after the backdrop of a highly uncertain macroeconomic landscape.

"As we move towards the second half of the current financial year (FY24), we will continue to be laser focused on the execution of our strategic plans while undertaking a prudent approach as we capture the opportunities ahead to further expand our business," he said.

Datasonic announced a second interim dividend of 0.6 sen per share, bringing the total payout per share for the current financial period to 1.2 sen.

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