KUALA LUMPUR (Nov 21): Censof Holdings Bhd slipped into the red in its second financial quarter ended Sept 30, 2014 (2QFY15) with a net loss of RM534,000, after deducting profit attributable to the financial software provider’s non-controlling interests, while leaving losses to its shareholders.
It posted a net profit of RM1.13 million in the year-ago period. Loss per share for 2QFY15 was 0.13 compared with an earnings per share of 0.33 a year ago.
Censof, however, recorded a pre-tax profit of RM5.19 million in 2QFY14 compared with RM1.35 million a year ago.
Revenue was up four-fold to RM32.63 million in 2QFY15 from RM7.65 million a year ago, mainly due to the consolidation of Dagang NeXchange Bhd's (DNEX) results for the quarter.
For the six months period, Censof registered a net profit of RM1.18 million on revenue of RM64.15 million. Since Censof has changed its financial year end from Dec 31 to March 31, there was no comparison with the previous corresponding period.
Moving forward, the group expects to have a better business prospect in the current financial year ending March 31, 2015 (FY15), as it made certain marketing initiatives and cost management actions by securing more commercial sector applications.
It also expects its joint venture with Asian Business Solutions Sdn Bhd to intensify on the Goods and Services Tax-related marketing activities, synergies from DNEX and rationalisation exercise to streamline operating overheads to contribute to FY15's earnings.
Censof shares were up half sen or 0.93% to 54.5 sen today, with 6.52 million shares traded, giving it a market capitalisation of RM246.15 million.
By Chester Tay / theedgemarkets.com
