IT SOLUTIONS and products provider Azeus Systems Holdings : BBW 0% on Thursday (May 30) posted a 91 per cent rise in net profit to HK$57.6 million (S$10 million) for its second half ended March 2024, from HK$30.3 million the year before.
Revenue for the half year rose 44 per cent to HK$196.1 million from HK$136.5 million the year before, the company said in a bourse filing. This was driven by robust growth from its Azeus products segment.
For the full year ended March 2024, net profit was up 68 per cent to HK$85 million, while revenue was up 30 per cent to HK$328.9 million.
The group noted that its Azeus products segment accounted for about 77 per cent of total FY2024 group revenue, while its IT services segment accounted for 23 per cent over the same corresponding period.
Earnings per share stood at HK$2.83 for the full year, up from HK$1.68 the year before.
An interim dividend of HK$0.90 per share was previously declared for the financial year ended March 2024, and paid earlier on Feb 28.
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A final dividend of HK$1.90 per share was proposed for the financial year, up from HK$1.08 per share the previous year.
Azeus executive chairman and director Lee Wan Lik said sales of its Azeus products segment has increased globally, as the group “expanded into more territories and added new product features and modules”.
He noted that the group’s Convene Records project – which manages the Hong Kong government’s central electronic record-keeping system – is progressively being deployed and expected to contribute to the group’s continued growth.
Shares of Azeus closed at S$8.70, up S$0.30 or 3.6 per cent on Thursday, before the release of results.
