Silverlake Axis Q3 net profit up 22%

SILVERLAKE Axis posted a 22 per cent rise in net profit to RM77 million (S$28 million) for the third quarter ended March 2015 from a year ago.

Revenue rose 5 per cent to RM143 million, led by higher contributions from maintenance and enhancement services and software project services.

The firm said it benefited from the implementation of Goods and Services Tax (GST) in Malaysia which had led to a 70 per cent growth in revenue from maintenance and enhancement services, following the completion of software implementation contracts and new GST-related enhancement contracts from existing customers.

Earnings per share stood at 3.41 sen from 2.80 sen.

The firm has declared a third interim dividend per share of 1.1 Singapore cents versus 1.0 Singapore cents in the previous corresponding period.