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Silverlake Axis Q4 profit up 3%

Friday, August 26, 2016 - 17:54

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REVENUE growth in all segments except one gave a lift to Silverlake Axis Limited's earnings for its fourth quarter, though this was partially negated by the absence of one-off gains and higher administrative costs.

REVENUE growth in all segments except one gave a lift to Silverlake Axis Limited's earnings for its fourth quarter, though this was partially negated by the absence of one-off gains and higher administrative costs.

Net profit grew 3 per cent to RM77.2 million (S$26 million) from the previous year, the group said in a Singapore Exchange filing on Friday evening. Fourth quarter earnings per share, in turn, edged up to 2.9 sen from 2.78 sen in the previous year.

For the three months ended June 30, revenue shot up 32 per cent to RM166.9 million from the year-ago period. The growth in revenue was due to higher contribution from all segments, except software project services, as well as an appreciation of the Singapore dollar and US dollar against the Malaysian ringgit, it said.

Silverlake Axis declared a final dividend of one Singapore cent a share, down from from 1.2 cent in the 2015 financial year.

The group said that the more cautious business outlook this year has resulted in a slowdown in major core IT replacement or upgrade, but added that it is still actively working with existing customers to enhance their core IT systems for greater efficiency, as well as to deliver new capabilities.

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