Silverlake Axis reported profit after tax of RM35.2 million for 1QFY2022 ended September, 7% higher y-o-y.
Meanwhile, revenue increased by 3% y-o-y to RM152.5 million, driven largely by project services, and maintenance and enhancement in the banking segment.
The Group continues to see sustained momentum in maintenance and enhancement revenue segment with this recurring revenue increasing 4% y-o-y to RM118.2 million in 1QFY2022, compared to RM113.5 million this time last year.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) reduced from RM64.2 million to RM57.5 million in 1QFY2022, primarily as a result of higher cost of sales.
Total expenses in 1QFY2022 was 12% lower y-o-y than 1QFY2021, falling to RM42.5 million for the recent quarter.
Earnings per share stood at 1.32 sen, up 4% y-o-y.
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Total pipeline of potential deals at the end of 1QFY2022 is valued at RM1.3 billion, with RM122.6 million of contract wins closed in the quarter generating secured revenue/backlog of RM560 million.
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"We expect full year FY2022 to be an improvement as we continue to keep the pace up in deal signings. Additionally, our maintenance and enhancement business continues to grow at a good pace," says the company in a Nov 12 press release.
Shares in Silverlake Axis closed 0.5 cents higher, or 1.61% up, at 31.5 cents on Nov 12.
