Infomina Berhad (Infomina) recorded a profit before tax (PBT) of RM10.8 million rising 7.9% on the back of a revenue stream of RM58.5 million which marginally increased the group's revenue by 1.7%, against the same quarter last year (4QFY2023).
The regional technology solutions provider announced its fourth quarter financial results for the financial year ended 31 May 2024 (4QFY2024) which was mainly driven by an improved gross profit margin, particularly the technology infrastructure operations, maintenance, and support services segment during the quarter under review.
Financial Performance – 12MFY2024
For the 12-month period ended 31 May 2024 (12MFY2024), the Group reported a revenue of RM225.2 million and a PBT of RM42.3 million declining 10.4% and 13.7% respectively, against the corresponding period of last year. The decline was largely due to non-recurring overage fees charged to customers for higher-than-expected utilisation in the corresponding period of last year.
As at 31 May 2024, the Group's balance sheet remained healthy, sporting a net cash position of RM63.9 million whilst the current ratio stood at an impressive 2.2x. Total borrowings amounted to RM6.1 million against shareholders' funds of RM142.9 million, the company said in a statement today.
On the results, Infomina Managing Director Yee Chee Meng said, "This is a commendable set of results for the Group. Revenue for 4QFY2024 came in higher at RM58.5 million whilst pre-tax profit increased 7.9% to RM10.8 million, largely driven by the growth in gross profit, particularly the technology infrastructure operations, maintenance, and support services segment during the quarter under review."
He added, "For the 12MFY2024, group revenue was largely driven by higher revenue generated from key contracts in Thailand and Malaysia. Our technology infrastructure operations, maintenance, and support services segment continue to be the Group's primary revenue contributor, accounting for 66% of total revenue. The remaining 34% was derived from our design and delivery of technology infrastructure solutions segment."
He added while their revenue for FY2024 was lower compared to a year ago, it's worth noting that the FY2023 performance was partly driven by the non-recurring overage fees in Q3FY2023. From this perspective, the company's underlying performance in FY2024 has actually improved.
"Looking ahead, our primary focus for the coming financial year is on replenishing the group's orderbook by securing new contracts from both existing and new customers across the regions where we operate."
With the recent boost from a RM53.6 million contract awarded in Thailand, Infomina's orderbook currently stands at over RM430 million. This orderbook is anchored by a diverse portfolio of more than 60 active clients throughout the Asian market.
Yee added Infomina received multiple prestigious awards from Broadcom Software, our software technology partner, including "Mainframe Partner of the Year 2023", "Enterprise Software Partner of the Year 2023", and "AIOPS Enterprise Software Partner of the Year 2023". This marks the third consecutive year since 2021 that Infomina has been honoured as "Mainframe Partner of the Year" and the second consecutive year receiving the Enterprise Software Partner of the Year" award.
Infomina is a regional technology solutions provider, principally involved in the design and implementation of technology application and infrastructure solutions that support the fundamental business operations of its customers. The Company further supports its customers through customised operations, maintenance and support services for technology solutions.
