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Silverlake Axis 1HFY2023 earnings up 5%

The Edge Singapore
The Edge Singapore • 1 min read
Silverlake Axis 1HFY2023 earnings up 5%
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Silverlake Axis, which focuses on software services for the financial sector, has reported a slight earnings improvement for its 1HFY2023.

For the six months to Dec 31 2022, earnings increased by 5% y-o-y to RM99.7 million. Revenue in the same period increased by 9% y-o-y to RM392.3 million.

The company's total recurring revenue, which gives better earnings visibility, increased 3% y-o-y to RM278.1 million, which accounts for more than 70% of the total.

“We continue to see strength in all our core revenue segments and we remain confident of our prospects going into the second half of the financial year," says group managing director Andrew Tan.

"There continue to be multiple macroeconomic risks and local complexity that potentially can affect our growth trajectory; however, we are prepared and have the right mix of products and project delivery to meet these challenges.

"Our financial position remains robust and we are progressing well on the execution of our strategic plans," says Tan.

See also: Trump wins Republican nomination, setting up rematch with Biden

Separately, the company announced it has won contracts worth a total of RM145 million from customers in 2QFY2023.

Silverlake Axis shares closed unchanged at 37 cents on Feb 14.

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