Silverlake Axis declares 0.8 Singapore cent dividend as Q1 profit rises 17%

SILVERLAKE Axis has declared its first interim dividend of 0.8 Singapore cent per share after robust demand for software services lifted net profit 17 per cent in its first fiscal quarter.

Net profit for the three months to Sept 30 rose to RM59.7 million (S$23.1 million), or 2.66 sen per share, mostly in line with a 15 per cent increase in revenue, to RM116.3 million, said the provider of enterprise software services for banks.

Maintenance and enhancement services remained the largest business segment, with revenue growing 22 per cent to RM56.5 million during the quarter. But the largest improvement came from software licensing, which increased by 84 per cent to contribute RM38 million of revenue.

Looking ahead, Silverlake Axis said it was cautiously optimistic about Asia for the rest of the fiscal year.

Silverlake shares closed at S$1.35 on Monday, up by 2.3 per cent or three cents, before the results were released.