KUALA LUMPUR: Dagang NeXchange Bhd’s (DNex) net profit increased 1.56 per cent to RM12.35 million in the second quarter ended June 30, 2019, from RM12.16 million a year ago.
In an exchange filing today, DNex attributed this to trade facilitation and e-commerce and billing of the Makkah Route project as well as improvements in system integration and consultancy business.
Its Q2 revenue rose to RM72.20 million from RM51.18 million on the back of the Makkah Route project, maintenance contract of the integrated government financial and management system (iGFMAS) project, as well as trading and services from the energy division.
For the first-half of 2019, DNex’s net profit dropped 14.51 per cent to RM24.28 million from RM28.40 million, while revenue increased 15.42 per cent to RM141.15 million from RM122.29 million previously.
“Our efforts to strengthen our revenue lines across both our IT and eServices and Energy divisions are yielding results. Our financial performance clearly shows that we are on the right track for the future,” DNex executive deputy chairman Datuk Samsul Husin said in a separate statement today.
Samsul said the company’s recently clinched contract extension from the government for the National Single Window for Trade Facilitation for a further two years, ending August 31, 2021 would provide strong earnings visibility.
“We are not resting on our laurels and will continue innovating to develop new eServices that leverage on our competencies,” he said.
He added that DNex was focused on growing its e-services via the Dagang Net Digital Platform initiative to provide end-to-end, innovative services to help customers be more efficient, embracing Big Data, blockchain and artificial intelligence technology.
“In the energy segment, we have been growing the orderbook of our trading and services business, and are actively tendering for more projects including the downstream sector,” he said.
The company will also continue to pursue its wide operational cost optimisation programme to drive improvements in operational efficiency and ensure earnings sustainability.