Posted by Jimmy Song > 2015-08-31 15:41 | Report Abuse

CENSOF POSTS EARNINGS GROWTH FOR 1QFY2016 Censof Holdings Berhad (“Censof” or the “Group”) today announced its first quarter results for the financial year ending 31 March 2016 (‘Q1FY2016’), with a 7.9% increase in net earnings to RM5.4 million, from RM5.0 million in the corresponding quarter of the previous financial year (“Q1FY2015”). The Group also posted revenue of RM34.1 million, 8.0% higher compared with the revenue of RM31.5 million posted in Q1FY2015. The increase in revenue were mainly due to the higher contribution from the National Single Window (“NSW”) segment coming from the Group’s subsidiary, Dagang Nexchange Berhad (“DNex”). The Group’s Financial Management Solutions (“FMS”) segment also posted an increase in revenue for the quarter under review. “We are pleased to see that our earnings are gaining positive momentum. We are continuously looking for opportunities to replenish our orderbook, and we are also looking at ways in which we can re-balance our portfolio between public and private sector contracts.” commented Mr. Ameer Shaik Mydin, Managing Director of Censof Holdings Berhad. The Group’s current outstanding orderbook stands at RM38.2 million, excluding the contribution from DNex. In addition to the Group’s outstanding orderbook, it also receives annual maintenance fees from existing clients of approximately RM16 million per annum. The Group has recently announced a proposed acquisition of a 51% stake in Asian Business Software Solutions Sdn Bhd (“ABSS”) for a total of S$10 million. “ABSS will contribute positively towards the Group’s earnings and expand our business presence as a Group. ABSS has established significant presence in the South Asia region for the MYOB branded accounting software and Censof will be able to leverage on this presence to expand our footprint for our other products.” continued Mr Ameer.