ENTERPRISE technology, software and services company Silverlake Axis reported on Monday (Feb 14) a jump in profit for its second quarter amid higher revenue.

In a bourse filing, the mainboard-listed company said profit after tax for the 3 months ended Dec 2021 grew 72 per cent on year to RM59.6 million (S$19.2 million). This came as revenue for the quarter rose 29 per cent to RM206.5 million, with strong growth in project related revenue segments.

Project-related revenue segments increased 110 per cent on year to RM56.6 million in the second quarter, the company said.

For the first half, Silverlake Axis reported a 40 per cent increase in net profit to RM94.7 million, as revenue also rose 16 per cent to RM358.5 million.

It noted "continued robust growth momentum" in recurring revenue segments, which represented more than 75 per cent of total group revenue in the first half.

A total of over RM300 million of new contracts were closed in the first 6 months of FY22, far exceeding the corresponding period in FY20 and FY21 and the momentum remains, the company said.

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"The prospects for the next half of FY2022 and beyond are encouraging as we have weathered the crises that was the Covid-19 pandemic, and we have proven that our business model is resilient and our strategy is focused and operating to plan," it added.

Silverlake Axis' group managing director Andrew Tan noted that the company has reached an inflection point in its key markets, with the pandemic reaching an endemic phase.

"We are cautiously optimistic of the group's prospects over the medium to long term with a robust pipeline of opportunities being evaluated, and the conversion has been encouraging," he said.

Silverlake Axis shares closed at S$0.27 on Monday, down 1.8 per cent, before the announcement.