KUALA LUMPUR: Daythree Digital Berhad , a Global Business Services (GBS) provider, marked a successful start to the financial year with a revenue of RM23.7 million. There are no comparative figure with the corresponding year’s same period.
In announcing its financial results for the first quarter ended March 31, 2024 (Q1 FY2024) today, Daythree posted a Profit before Taxation (PBT) of RM2.3 million and a Profit after Taxation (PAT) of RM1.7 million, reflecting strong operational performance. The Group's gross profit stood at RM4.7 million, demonstrating that its profitability remains in line with industry growth, underscoring the sustainability of Daythree’s business model.
Compared to the immediate preceding quarter (Q4 FY2023), the Group recorded an increase in revenue from RM23.6 million to RM23.7 million. However, the gross profit decreased from RM5.6 million to RM4.7 million, and the PBT reduced from RM3.2 million to RM2.3 million correspondingly. This reduction is primarily attributed to lower transactional volume from certain customers, resulting in lower revenue from these customers and a lower gross profit margin for Q1 FY2024.
Nevertheless, Daythree remains solid on its cash generating ability. As such, the Board of Directors declared a single-tier first interim dividend of 0.725 sen per share for the financial year ending Dec 31, 2024, amounting to a dividend payable of RM3.48 million. The entitlement date for the dividend is June 19, 2024, with the payment date set for June 28, 2024. This dividend declaration underscores Daythree's commitment to delivering shareholder value.
During the Annual General Meeting (AGM) held on May 29, 2024, all five resolutions were passed by the shareholders.
Managing Director, Raymond Davadass, commented, “We continue to leverage our technology and industry expertise to deliver unparalleled service to our clients. Our approach is guided by our commitment to creating long-term value and tangible returns for our shareholders. This dividend declaration further underscores our resilience amidst challenges and our strategic execution.”
He added that they are also deeply appreciative of the support of their shareholders, and with the promising outlook of the GBS industry, they are confident in their ability to achieve long-term growth and success.
With the global GBS industry on an upward trajectory, Daythree is optimally positioned to capture this growth, especially with the Malaysian GBS industry expected to expand from RM24.8 billion in 2023 to RM31.7 billion by 2027, at a CAGR of 6.3%. This promising outlook is mirrored in Daythree's strategic investments and utilisation of the RM33.1 million raised from the successful listing on the ACE Market of Bursa Malaysia, with a balance of RM15.5 million earmarked for further business expansion; where RM0.7 million has been utilised for office expansion, RM1.2 million for recruitment of experts of the industry, RM0.9 million for the capital expenditure, RM11.0 million for working capital, RM3.7 million for listing expenses, and a maiden RM0.1 million deployed in branding, marketing and promotional activities.
As of May 29, 2024, 5.30pm, Daythree's share price stands at RM0.350, indicating a market capitalisation of RM168.0 million, reflecting the confidence of investors in the Group's strategic direction and future potential.
