KUALA LUMPUR: PUC Bhd posted a net loss of RM11.45 million in the first quarter ended Sept 30, 2024 (1Q25) from a net profit of RM1.01 million a year ago.
This was due to increased marketing activities to support Presto's loyalty redemption business.
The result also reflects the absence of one-off income that was recorded in the corresponding quarter of the previous year.
Its revenue dropped 66.8 per cent to RM4.87 million from RM14.67 million, the company's filing to Bursa Malaysia showed.
As a result, PUC registered a loss per share of 0.43 sen compared to an earnings per share of 0.06 sen in 1Q24.
Segmentally, the OmniChannel segment contributed RM3.1 million in revenue, marking a 154.5 per cent increase from RM1.2 million in the immediate preceding quarter.
This growth was driven by the successful execution of a higher number of media campaigns in 1Q24.
Meanwhile, the Presto segment, which encompasses e-commerce, payments, and loyalty points aggregation and redemption, recorded a 195.0 per cent revenue increase, rising from RM0.61 million to RM1.8 million in 1Q25.
PUC group managing director and chief executive officer Cheong Chia Chou said the company's strategic focus on the Presto ecosystem and OmniChannel media continues to reflect in the steady development of these businesses.
"Despite short-term challenges, our efforts in streamlining operations and enhancing our product offerings position us well for sustainable growth," he noted.
PUC remains optimistic about the opportunities within the loyalty redemption and digital marketing space.
The company plans to leverage its expertise in tailored marketing solutions and loyalty programmes, supported by new partnerships and ecosystem expansions under the Presto platform.
PUC is exploring ways to diversify its revenue streams through proactive acquisitions and collaborations with industry players.
"We remain committed to driving operational improvements and forming strategic partnerships to expand Presto's ecosystem," Cheong said.
He added that initiatives like its collaborations with Touch-n-Go E-wallet, BonusLink, and other key players reflect its dedication to delivering innovative solutions while achieving sustainable profitability.