Kronologi sees cautious customers

PETALING JAYA: Kronologi Asia Bhd expects customers to maintain a cautionary outlook for the rest of the financial year 2024, as it remains focused on delivering positive earnings and increasing value for its shareholders.

For the third quarter ended Oct 31, 2023, the data solutions provider’s net profit dropped by 86% y-o-y to RM1mil or earnings per share of 0.14 sen.

This was mainly due to higher depreciation of property, plant and equipment, and partly from operating costs such as office rental and staff costs which included accrued staff commissions. Revenue fell by 23% y-o-y to RM67.7mil.