KUALA LUMPUR: Upon wrapping the final quarter of its 2020 financial year, Datasonic Group Bhd is expecting a challenging year ahead as travel disruptions from the Covid-19 outbreak impact the group's operations.
"The uncertainties and challenges arising from the Covid-19 pandemic have also inevitably disrupted the global economic stability and commercial environment and activities.
"However, the pandemic also offer new business opportunities in the areas of public security, public health and also e-commerce," it said in a filing with Bursa Malaysia.
Datasonic said net profit for the fourth quarter of the financial year ended March 31 rose 5.5% over the previous corresponding quarter at RM12.27mil.
According to the group, revenue for the quarter fell 10.6% to RM50.72mil versus the comparative quarter on the lower supply of smart cards and passports.
Consequently, pre-tax profit for the quarter was 6.4% lower at RM11.98mil.
Over the entire financial year, group revenue jumped 12.7% over the previous year to RM247.54mil while net profit jumped 65.7% to RM60.37mil.
At the lunch break, the price of Datasonic shares was down one sen or 0.66% to RM1.50 apiece on the back of 5.5 million shares traded.