Cloudpoint Technology Bhd has reported a 35% increase in revenue for its third quarter ended Sept 30, 2024 (3Q24), which amounted to RM26.4 million.
The group also recorded a net profit of RM4 million for 3Q24, an uptick of 21% year-on-year, and continued to generate positive cash inflow from operating activities amounting to RM10.9 million during the quarter.
For the cumulative nine months ended Sept 30, 2024 (9M24), the group's revenue and net profit grew 17% and 22%, respectively, to reach RM92.7 million and RM12.9 million.
On that note, Cloudpoint declared a first interim dividend of one sen per share, payable on Dec 23, 2024.
The group also announced that it has obtained its shareholders' approval for the proposed acquisition of 75% equity stakes in Unique Central Sdn Bhd and Uniqcen Sales & Services Sdn Bhd.
"These acquisitions will significantly strengthen the group's capabilities, enabling it to offer end-to-end data centre (DC) solutions including DC design and infrastructure technologies, engineering services for hyperscalers, hybrid and multi-cloud implementations, as well as artificial intelligence and sustainable DC solutions.
"This strategic move will drive revenue growth, enhance earnings and create new recurring income streams, further improving profitability and shareholder value," it said in a filing to Bursa Malaysia yesterday.
