PETALING JAYA: SNS Network Technology Bhd
remains positive on the ICT industry and expects artificial intelligence to play a significant role in its growth going forward.
For the second quarter ended July 31, 2024, the group’s net profit was down by 30% year-on-year (y-o-y) to RM6.3mil or earnings per share of 0.39 sen.
This was mainly due to the lower revenue recorded, and the increase in selling and distribution expenses because of the increase in salaries and commissions to third-party online marketplaces as well as increase in marketing and promotional expenses.
SNS Network’s revenue declined by 9% y-o-y to RM303.7mil, mainly attributable to the secured major orders of the company to supply mainly laptops for the education industry through the commercial channel in the corresponding financial quarter.For the first half of its financial year 2025, SNS Network’s net profit was down by 40% y-o-y to RM10.1mil. The group’s revenue also fell by 17% y-o-y to RM517.3mil.
It declared a second interim single-tier dividend of 0.25 sen per ordinary share amounting to RM4.05mil in respect of the financial year ending Jan 31, 2025, payable on Nov 26, 2024.
