AUTOCOUNT Dotcom Bhd, a renowned developer and distributor of financial management software (accounting, point-of-sale and payroll), has posted a 50.8% year-on-year (yoy) surge in its net profit for FY2024 ended Dec 31, 2024 to RM19.58 mil (FY2023: RM12.98 mil) spurred by robust demand for its software solutions.
Reflecting a spike in its financial management segment amid increasing adoption of digitalisation by businesses across Malaysia and Singapore, the group’s revenue for FY2024 rallied 45.7% yoy to an all-time high of RM60.45 mil (FY2023: 41.49 mil).
“AutoCount’s strong FY2024 results demonstrate our ability to capitalise on the growing demand for digital solutions,” commented AutoCount’s managing director Y.T. Choo.
“We are committed to providing innovative and user-friendly software that helps businesses streamline their operations and achieve greater efficiency.”
The distribution of financial management software remained AutoCount’s largest revenue contributor as it spiked 47.6% yoy to RM53.95 mil in FY2024. The group’s technical support & maintenance segment saw 15,5% yoy growth by having generated RM4.50 mil.
Regionally, Malaysia continued to be the primary revenue driver with 86.9% of total revenue at RM52.56 mil or an increase of 67.7% yoy.
As it is, AutoCount is well-positioned to benefit from the continued roll-out of Malaysia’s e-invoicing mandate and digitalisation grants.
The recent government decision to delay mandatory e-invoicing for micro-SMEs until January 2026 provides businesses with more time to prepare and adopt digital solutions which AutoCount views as a positive development.
Additionally, the Malaysian government’s RM50 mil digitalisation grant announced in Budget 2025 is expected to further drive the adoption of digital solutions among SMEs.
To further support SMEs in their digital transformation journey, AutoCount recently launched its OneSales PalmPOS, a mobile POS solution designed for micro-SMEs.
This cost-effective, user-friendly system integrates seamlessly with AutoCount Cloud Accounting, thus enabling businesses to generate and submit e-invoices effortlessly while managing payments digitally.
Looking ahead, AutoCount remains optimistic about its growth prospects driven by on-going adoption of e-invoicing and automation trends, regional expansion into markets like Singapore, Indonesia and the Philippines as well as continued investment in research & development (R&D).
“We are confident in maintaining our growth momentum in 2025 and beyond,” projected Choo.
“Our focus on innovation, customer satisfaction and strategic partnerships will enable us to deliver continued value to businesses and solidify our position as a leading player in the financial management software industry.”
At 10.11am, AutoCount was unchanged at RM1.02 with 142,900 shares traded, thus valuing the company at RM562 mil. – Feb 27, 2025
