ICT Zone Asia posts higher after-tax profit of RM5.7m for 6M’24

Technology financing solutions provider ICT Zone Asia Bhd recorded a 46.2% year-on-year growth in profit after tax to RM5.7 million for the six-month period ended Jan 31, 2024 (6M’24) from RM3.9 million in the corresponding period of FY23.

The company’s half-year revenue grew RM14.4 million or 34.5% to RM56.2 million for the current period from RM41.8 million in the previous year’s corresponding period.

Earnings per share for the current period stood at 0.91, a 25% increase from 0.73 sen per share a year ago.

The growth was primarily driven by better pricing strategy implemented by the company and securing additional contracts from both the government and corporate sectors for its technology financing and cloud solutions and services segments.

Compared with the previous year’s corresponding period, its technology financing segment gaining RM11 million or 62.9% whereas the cloud solutions and services segment jumped RM3.8 million or 131%. This signified the growth potential of these two segments across both corporate and government sectors as environmental, social, and governance (ESG) considerations continue to play an increasingly significant role in investment decisions and business operations.

In a statement, the LEAP Market-listed company highlighted that the total unbilled order book of its technology financing segment over the next three financial years will reach an all-time high of RM236 million. For its cloud solutions and services segment, the total unbilled order book will jump to about RM15.2 million.

Through its proprietary Device-as-a-Service (Daas) 360 solutions, ICT Zone Asia is engaged in technology financing, providing information and communication technology (ICT) solutions and services. The company offers cloud solutions and consultancy via its subsidiary, Cloudify.Asia.

ICT Zone Asia is the only company with a four-star Hewlett Packard Amplify Impact Badge and the first Dell Cloud Partner Connect in Malaysia.

The company is undergoing a transfer listing to the ACE Market via Bursa Malaysia’s transfer listing framework. As part of the listing transfer process, the company must secure approvals from its shareholders and ICPS holders at extraordinary general meetings to initiate the withdrawal of listing from the LEAP Market and apply for transfer to the ACE Market.