Monday, August 29, 2011

Century Software posts net profit RM925k in 2Q

KUALA LUMPUR: Century Software Holdings Bhd (Century) posted net profit RM925,000 for the second quarter ended June 30, 2011, on the back revenue RM5.32 million.

The company said on Monday, Aug 29 that earnings per share for the quarter was 0.27 sen, while net assets per share was 15.01 sen.

Century declared a first interim single tier dividend of 10% in respect for the financial year ending Dec 31, 2011 to be paid on Nov 15.

For the six months ended June, Century posted net profit RM2.88 million on the back of revenue RM13.05 million.

Reviewing its performance, Century said its revenue for the quarter under review fell 30.45% from RM7.65 million in the first quarter ended March 31, 2011.

It said the lower turnover was due to the normal business cycle where most government agencies were still awaiting their respective budget allocation and disbursement.

On its prospects, Century said that with the implementation of the government's ongoing Economic Transformation Programme, major computerisation proposals are to be initiated for implementation by the various Government agencies and local authorities, thus provide an encouraging business outlook for the group.

As for the FMSS division, the public sector is upgrading to a higher security and better connectivity information infrastructure to strengthen its public delivery systems.

In relation to Payment Aggregate software division, the adoption of e-bayaran payment gateway by the various regulatory authorities enhances the division's long term income stream.

Barring any unforeseen circumstances, the Group is confident of achieving a better performance for the financial year ending 31 December 2011.

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