SNS remains positive on ICT outlook

PETALING JAYA: SNS Network Technology Bhd maintains a positive outlook on the information and communications technology (ICT) industry on the back of continuous growth in demand and the strengthening of its existing customer base.

In a filing with Bursa Malaysia, the local ICT solutions provider said the ICT product and services industry is expected to be continuously driven by the wide usage of ICT in everyday lives by the public and businesses.

SNS recorded a 24.5% drop in revenue quarter-on-quarter to RM263.29mil for the third quarter of financial year 2023 (3Q23) ended Oct 31, 2023.

Net profit for the period fell to RM2mil from RM11.9mil in 3Q22.