KUALA LUMPUR: CTOS Digital Bhd
, which saw its net profit jump 20.7% in the second quarter ended June 30 (2Q24), has declared a second interim single-tier dividend of 0.78 sen per ordinary share.
The credit reporting agency said the dividend translates to a payout ratio of 71% for the quarter.
The dividend will be paid on Sept 27, 2024 while the entitlement date for the dividend payment is on Aug 30.
CTOS posted a new record revenue amounting to RM76.6mil in 2Q24, signifying a significant 23% year-on-year (YoY) increase as compared to RM62.2mil in 2Q23.
The group attributed the performance to growth across all business segments (key accounts, commercial, and direct-to-consumer), both YoY and quarter-on-quarter.
In the first six months to June 30, its revenue improved by 22% to RM148.2mil from RM121.8mil a year ago, while profit after tax and minority interest grew by 23% to RM46.3mil versus RM37.7mil a year ago.
“Looking ahead, we have several projects slated for implementation in the second half of the year, poised to accelerate the adoption of our digital solutions and advanced analytics.
“Both banks and non-bank financial institutions are increasingly leveraging data and analytics to fuel their growth, and we are well-positioned to support their needs,” executive director and group chief executive officer Erick Hamburger said in a statement.
He noted that its international operations under the Finscore brand are rapidly gaining traction, evidenced by rising usage volumes since completing the acquisitions
“The integration of our alternative data platform with existing analytics capabilities uniquely positions us to meet the evolving credit solution demands in these markets.
“Moving forward, we are set to aggressively upsell our analytics and digital solutions, deepening client value and enhancing our profit margins. Numerous growth vectors have been identified in regional markets, and we are poised to capitalise on these exciting opportunities,” he said.
Hamburger believes its services and solutions will remain essential as the digital economy expands in Malaysia and throughout Asean.
“CTOS will continue investing for future growth by strengthening our marketing and support teams locally and regionally to increase market penetration, boost consumption, and cross-sell value-added solutions. With our superior data assets and sophisticated capabilities, we are confident in our ability to continue delivering sustainable value to our customers and shareholders,” he added.
