Datasonic Q3 net profit falls 58.9%

PETALING JAYA: Datasonic Group Bhd's net profit for the third quarter ended Dec 31, 2016 fell 58.9% to RM8 million from RM19.4 million a year ago due to lower gross profit margin.
In a filing with Bursa Malaysia yesterday, the group reported lower profit from operations during the quarter at RM12.8 million compared with RM18.5 million a year ago.
Revenue for the quarter rose 18.81% to RM73.21 million from RM61.6 million a year ago. The group said it derived RM31.5 million revenue from the supply and personalisation of smart cards during the quarter.
For the nine months ended Dec 31, 2016, net profit rose 1.35% to RM44.71 million from RM44.1 million a year ago while revenue rose 35% to RM225.7 million from RM167.3 million a year ago.
The group declared a third interim single-tier dividend of 0.5 sen per share in respect of the financial year ending March 31, 2017 (FY17), amounting to RM6.8 million. The dates of entitlement and payment will be determined and announced in due course.
The group said prospects for growth in FY17 are expected to be satisfactory, barring any unforeseen circumstances.