KUALA LUMPUR (Feb 25): Smart city integrated system and solutions provider ITMAX System Bhd’s (KL:ITMAX) net profit increased 26.6% year-on-year (y-o-y) in the fourth quarter of last year, on the back of higher revenue from its digital infrastructure and maintenance services.

Net profit for the three months ended Dec 31, 2024 (4QFY2024) was RM21.10 million, compared with RM16.67 million in the same quarter in 2023, the company said in a filing. Earnings per share rose to 2.05 sen from 1.62 sen in 4QFY2023.

Revenue for the quarter jumped 48.23% to RM63.13 million from RM42.59 million in the same quarter a year ago, driven by an expansion in digital infrastructure solutions and supply, installation and maintenance services.

The company announced an interim dividend of 0.6 sen per share, payable on March 25, bringing the total dividend for FY2024 to two sen per share, up from 1.2 sen the previous year.

ITMAX closed FY2024 with a 27.06% y-o-y increase in net profit to RM80.39 million from RM63.28 million in FY2023. Revenue for the year rose 47.13% to RM220.23 million, compared to RM149.68 million previously.

The group said its prospects remain favourable despite inflationary pressure and disrupted supply chains.

“The group is looking to continue its growth by expanding its service offerings and expanding into other geographical territories and segments,” it said.

ITMAX’s shares closed unchanged at RM3.94 on Tuesday, giving the company a market capitalisation of RM4.06 billion.