OMESTI Results Indicate Positive Outlook
“During the year, we have taken the necessary measures within the Group to turn performance around. As such, we are pleased with the improvements that have been achieved.” OMESTI Executive Director Gerard Monteiro
Malaysian technology group OMESTI Berhad has reported an improved performance for the financial year ended 31 March 2017, with total revenues of RM420.21 million up from RM407.08 million for 2016.
The Business Performance Services segment recorded revenues of RM249.85 million and PBT of RM2.70 million as compared to revenue of RM223.53 million and LBT of RM9.44 million in the previous year. Revenues for the Trading & Distribution segment were up from RM200.09 million in 2016 to RM207.60 million, while PBT recorded a significant increase up from RM4.95 million in 2016 to RM7.11 million this year. The Digital & Infrastructure Services segment however recorded lower revenues of RM37.03 million, as compared to RM47.62 million in the previous period.
Despite taking into account the ESOS charge of RM4.39 million, as well as costs associated with the Group’s human capital restructuring amounting to RM1.49 million, the Group overall recorded LBT of RM11.13 million, a marked improvement on the LBT of RM27.42 million in 2016.
OMESTI Executive Director Gerard Monteiro said, “During the year, we have taken the necessary measures within the Group to turn performance around. As such, we are pleased with the improvements that have been achieved. We are also encouraged by the positive developments in the industry over the last few months, with signs that the market is beginning to recover. Following the organisational changes we have put in place, OMESTI is now well-positioned to take on these new opportunities.”
In December 2016, OMESTI secured a key project for the Companies Commission of Malaysia to develop and deploy a new digital financial reporting platform using the global standard XBRL. The new system is set to transform the corporate reporting landscape in Malaysia. The Group is also currently engaged in the roll-out of the new digital eCOURTS infrastructure platform at 20 locations across Peninsular Malaysia. The new solution enables filing and case management to be conducted online, from any device including mobile.