KUALA LUMPUR (Aug 1): CTOS Digital Bhd’s (KL:CTOS) net profit gained 20.7% to RM25.5 million for the second quarter ended June 30, 2024 (2QFY2024), from RM21.13 million a year ago, thanks to higher contribution from all customer groups, namely key accounts, commercial and direct-to-consumer.

Its quarterly revenue increased 23.1% year-on-year (y-o-y) to RM76.64 million from RM62.24 million.  Earnings per share increased to 1.1 sen from 0.9 sen.

In tandem with the strong results, the group declared a higher second interim dividend per share of 0.78 sen, compared to the 0.55 sen declared a year ago.

For the first half of 2024, CTOS saw its cumulative revenue grow 21.7% y-o-y to RM148.22 million while net profit rose 22.8% to RM46.32 million compared to RM37.71 million a year ago.

In a bourse filing on Thursday, CTOS said the segment profit from its Malaysian operations grew 8.5% to RM51.3 million for the first half of 2024 from RM47.2 million a year ago, driven by a 6.5% increase in revenue.

Its international operations, which comprise newly acquired entities in Indonesia and the Philippines, contributed total revenue of RM18.4 million and a segment profit of RM1.5 million.

In terms of prospects, CTOS said it is positive about its growth over the short- to medium-term, driven by strategic expansion and efficient operational performance across all three business segments.

Regionally, the expansion into Indonesia and the Philippines have opened avenues for growth and begun to contribute positively towards the group’s financial performance in 2024.

The group said it will continue to integrate its established expertise with local market insights, with the goal to offer a comprehensive suite of credit-centric solutions for competitive edge.

Shares in CTOS Digital closed unchanged at RM1.42 on Thursday, giving the group a market capitalisation of RM3.28 billion.