KUALA LUMPUR: SNS Network Technology Bhd reported a 40.5 per cent jump in net profit to RM16.77 million in the fourth quarter (Q4) ended Jan 31 2023 from RM11.96 million in the third quarter.
There are no comparative figures on a year-over-year basis as SNS was listed on the ACE Market of Bursa Malaysia on Sept 2 last year.
SNS Network said its revenue soared 46.2 per cent to RM509.86 million from RM348.84 million in Q3.
For the quarter under review, there was a 44.6 per cent rise in pre-tax profit to RM22.09 million from RM15.28 million in Q3.
For the full year, the ICT products, services and solutions provider company registered RM43.72 million net profit on RM1.40 billion revenue.
Managing director Ko Yun Hung said SNS Network was looking at continuous growth in revenue and profitability as long as the commercial channel remained the pillar of the company.
"The demand cuts across industries from both the government and private sectors. Just recently, we won a tender from the Ministry of Education valued at RM41.33 million through our Device-as-a-Service offering that addresses the gap in learning through the upgrade of devices and technology for students and teachers," he said in a statement.
Ko said SNS had expected a growing demand for digital transformation projects.
The company, he added, was in the right position to secure more projects in the upcoming months.
"As businesses and organisations continue to embrace digitalisation, we remain committed to delivering innovative solutions that meet their evolving needs and help them stay ahead of the curve in an increasingly competitive landscape," he said.