KUALA LUMPUR: CTOS Digital Bhd's net profit surged almost two-fold in the third quarter (Q3) ended Sept 30, 2022 to RM22.76 million from the RM11.67 million recorded in the same quarter a year ago.
The company's revenue increased 37 per cent to RM52.85 million from RM38.57 million, reflecting broad-based strength across its core business segments - key accounts, commercial and direct-to-consumer.
CTOS Digital executive director and group chief executive officer Erick Hamburger said the company delivered another outstanding set of results this quarter, underpinned by improved organic performance, as momentum continued to accelerate in all three business segments.
"Our growth playbook has not stopped since listing, as evidenced by our six consecutive quarters of revenue increase.
"Data assets, analytics, and technology have become vital as the economy digitalises, making our products and services increasingly critical.
"The opportunities for credit, driven by the rise of the digital economy are not only for fintech players but also for the growth of incumbent credit providers that are likewise in the process of enhancing their digital capabilities.
"This represents tremendous opportunities for CTOS Digital and we expect heightened services penetration and customer base expansion, driven by analytics and digital solutions," he said in a statement today.
For the nine-month period, CTOS Digital' net profit grew 85 per cent to RM57.71 million from RM31.19 million, while revenue increased 24.2 per cent to RM142.04 million from RM114.37 million.
CTOS Digital declared a third interim single-tier dividend of 0.6 sen per share, payable on Dec 14.
The total payout amounts to RM13.86 million, representing a payout ratio of 61 per cent.
With this, the company has declared a total dividend of RM35 million in respect of the financial year ending Dec 31, 2022.
Hamburger said the coming quarters would be exciting for the company as it concentrated on increasing its wallet share via upselling and cross-selling opportunities within business units and across related companies, including extracting synergies from its highly complementary acquisitions.
"We will also invest in our analytics capabilities to drive further growth and broaden our footprint into new verticals.
"We have intensified our ESG efforts and made commitments to take action against climate change by setting targets for emission reduction.