KUALA LUMPUR (March 24): ICT Zone Asia Bhd (KL:ICTZONE), which is in the midst of being transferred from the LEAP Market to the ACE Market on Bursa Malaysia, reported a net profit of RM4.42 million for the second half ended Jan 31, 2025 (2HFY2025), down 16.8% from RM5.32 million a year earlier.

The decline was mainly due to higher finance and staff costs from additional headcount to support business expansion, along with one-off expenses related to its proposed transfer of listing, the technology financing solutions provider said in a bourse filing on Monday.

Meanwhile, revenue for the six-month period rose 24.8% year-on-year (y-o-y) to RM70.1 million from RM56.2 million, driven by growth in the technology financing and trading segments, supported by renewed and new contracts.

For the full-year period, ICT Zone's net profit increased nearly 20% y-o-y to its record high of RM8.8 million, up from RM7.34 million, while revenue grew 11.7% y-o-y to RM127.8 million from RM114.4 million.

“As of Jan 31, 2025, our unbilled order book in technology financing and cloud solutions stood at RM261.2 million, to be deployed over five years. We are targeting RM500 million in unbilled orders within three years of our ACE Market transfer,” said managing director and CEO Tommy Lim Kok Kwang in a separate statement.

Moving forward, ICT Zone remains focused on expanding its technology financing segment, which contributed 59.7% of the group's revenue.

The group also aims to drive growth in its cloud solutions and services segment, with an unbilled order book of approximately RM8.2 million for the next five financial years as of the end of January 2025.

ICT Zone’s shares closed unchanged at 28 sen on Monday, valuing the company at RM185.5 million.