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Sunday, August 21, 2016

Elsoft Research’s 2Q net profit up more than five-fold, pays 3 sen dividend

Elsoft Research’s 2Q net profit up more than five-fold, pays 3 sen dividend
By Billy Toh / theedgemarkets.com | August 19, 2016 : 8:41 PM MYT

KUALA LUMPUR (Aug 19): Elsoft Research Bhd posted a more than five-fold rise in second quarter net profit to RM10.4 million, from RM1.87 million a year ago, on higher revenue and foreign exchange gains.

Revenue for the quarter ended June 30, 2016 (2QFY16) jumped 239.6% to RM18.4 million, from RM5.43 million for 2QFY15, contributed by the return of demand from the automotive industry and continuous demand from the smart devices industry.

The group declared a single-tier interim dividend of three sen per share, with Sept 23 as the ex-date and Sept 29 as payment date. It had paid a two sen dividend for the previous corresponding quarter.

For the first half of FY16 (1HFY16), net profit rose 80.8% to RM11.9 million, from RM6.59 million in 1HFY15; while revenue increased 81.8% to RM28.6 million, from RM15.7 million.

In its filing with Bursa Malaysia, Elsoft said it is optimistic on the group’s prospects for FY16.

Elsoft shares rose one sen or 0.54% to RM1.86, with only about 43,000 units traded.

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