LGMS
Cybersecurity consultancy $LGMS (0249.MY)$ is introducing a subscription-based solution aimed at small and medium enterprises (SMEs), which represents a new revenue model for the company.
Key Financial Results
Key Financial Results
Revenue: RM36.1m (up 10.0% from FY 2022)
Net income: RM11.2m (down 2.8% from FY 2022).
Profit margin: 31% (down from 35% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: RM0.025 (down from RM0.028 in FY 2022)
Company Prospect and outlook :-
The digital economy in Malaysia is currently contributing 22.6% to the Malaysian GDP and the number is set to rise to 25.5% by year 2025 according to the prediction by Malaysia Digital Economy Corporation. Such trajectory predicates a strong growth in e-commerce and heightened digital assimilation across sectors. Given that digital technologies are intertwined with everyday life and business activities, the potential consequences of cyber threats on the country's economic landscape are hence significant and safeguarding against such risks is imperative. The rising demand for cybersecurity services will create opportunities to the cybersecurity market. Leveraging the Group's market position, branding and the entry of Mitsui Co., Ltd in LGMS, the Group is strategically poised to benefit from the growing demands for such services.
The Group is on a business expansion route with the aim to expand its geographical footprints regionally. The Board expects such expansion route will contribute positively to the Group's financial performance moving forward.
Net income: RM11.2m (down 2.8% from FY 2022).
Profit margin: 31% (down from 35% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: RM0.025 (down from RM0.028 in FY 2022)
Company Prospect and outlook :-
The digital economy in Malaysia is currently contributing 22.6% to the Malaysian GDP and the number is set to rise to 25.5% by year 2025 according to the prediction by Malaysia Digital Economy Corporation. Such trajectory predicates a strong growth in e-commerce and heightened digital assimilation across sectors. Given that digital technologies are intertwined with everyday life and business activities, the potential consequences of cyber threats on the country's economic landscape are hence significant and safeguarding against such risks is imperative. The rising demand for cybersecurity services will create opportunities to the cybersecurity market. Leveraging the Group's market position, branding and the entry of Mitsui Co., Ltd in LGMS, the Group is strategically poised to benefit from the growing demands for such services.
The Group is on a business expansion route with the aim to expand its geographical footprints regionally. The Board expects such expansion route will contribute positively to the Group's financial performance moving forward.
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