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SNS Network sees positive outlook on demand for ICT products

admin2022-12-1418

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SNS Network managing director Ko Yun Hung

KUALA LUMPUR: SNS Network Technology Bhd is positive on its outlook given the continuous growth in demand for ICT products.This is supported by the rising economic activities and the strengthening of its existing customer base together with expansion of market share.“For the immediate future, we will continue to focus on the plans as announced in our prospectus, namely the expansion of our Device-as-a-Service business, the construction of a regional hub in Petaling Jaya, and the setting up of 10 new stores in the country,” managing director Ko Yun Hung said in a statement.In the second quarter ended July 31 (2Q23), SNS posted a net profit of RM8.81mil, or earnings per share of 2.32 sen against RM6.19mil, or 0.5 sen in the preceding quarter.Its revenue during the quarter rose to RM296.93mil from RM248.16mil in 1Q23.In the first six months to July 31, SNS posted a net profit of RM15mil on revenue of RM545.1mil.There are no comparative figures on a year-over-year basis as SNS was listed on the ACE Market of Bursa Malaysia on Sept 2.“The group’s performance for the quarter under review was supported by higher demand for ICT products from local customers under our commercial channel comprising businesses, government agencies and educational institutions following the full resumption of business operations after the reopening of the Malaysian economy,” Ko said.


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