Newly listed Info-Tech has reported earnings of $5.16 million for the 1HFY2025 ended June 30, down 21% y-o-y.
Revenue came in 5% y-o-y higher at $22.4 million for 1HFY2025, and gross profit increased by 3% y-o-y to $19.1 million.
Excluding the one-off listing-related expenses of $2.0 million and one-off Malaysia office relocation-related expenses of $0.1 million, earnings would have increased 9% y-o-y to $7.2 million for the 1HFY2025.
The group says that the topline improvement was largely due to a $1.3 million increase in subscription revenue, which includes its proprietary cloud-based one-stop HRMS solution, which is its main product line and accounts for more than 80% of total revenue, as well as its Accounting Software.
The group registered a double-digit revenue growth of 28% to $4.9 million from Malaysia and 29% to $1.6 million from Others, which include Hong Kong and India, but sales from Singapore remained relatively stable at $15.9 million.
As at June 30, the group’s cash and cash equivalents stood at $33.7 million excluding IPO proceeds. Order book amounted to $26.8 million, representing advance billings primarily for subscription services for the next 12 months.
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The group says that this provides revenue visibility for the next half of its financial year ending Dec 31.
The board of directors has declared an interim dividend of 1.55 cents per share, 55% of the group’s adjusted net profit after tax for 1HFY2025.
Shares in Info-Tech closed flat at 84.5 cents on Aug 8.
