Securemetric announces Q3 results
Focus Malaysia 09 Nov 2018 15:41
Securemetric Berhad (“Securemetric <实科科技> or the “Company”), a regional player offering digital security products and solutions across South East Asia is slated for listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 13 November 2018.
Ahead of its listing, Securemetric has today announced its third quarter results for the financial year ending 31 December 2018.
For the nine (9) months up to 30 September 2018, Securemetric and its subsidiaries (the “Group”) achieved revenue of RM19.6 million of which 87% was derived overseas from South East Asia, the United States and Canada. The Group’s Public Key Infrastructure (“PKI”) solutions remained the top revenue contributor, accounting for 32% of revenue.
It was previously disclosed in Securemetric’s initial public offering (“IPO”) prospectus that the Group is subject to seasonality in its business due to the annual budget cycles of some of its clients. Thus, revenue billing is typically concentrated in the second half of its financial year. For the nine (9) months ended 30 September 2018, the Group recorded profit after tax attributable to shareholders of RM1.0 million, an upswing from its loss after tax position of RM0.5 million for the four (4) months up to 30 April 2018 as reported in the prospectus.
Chief Executive Officer Edward Law Seeh Key <刘士奇> commented: “In line with previous years, our results recorded improvements in the third quarter when compared to the first half of the year. We are confident of delivering positive results for the full financial year 2018. The IPO will provide us with a much-needed booster for expansion and we are optimistic about 2019 with digitalization driving the need for security solutions to counter cyber threats across our key markets in Southeast Asia.”