KUALA LUMPUR (Aug 14): N2N Connect Bhd (KL:N2N) has posted a 41% year-on-year rise in second quarter net profit to RM3.19 million from RM2.26 million a year ago, due to lower operating expenses and an increase in contributions from its associate.
Earnings per share for the quarter ended June 30, 2025 (2QFY2025) increased to 0.57 sen from 0.41 sen, the group's exchange filing showed.
N2N, one of two main providers of direct market access platform services to stockbroking firms in Malaysia, said the quarterly core profit — excluding unrealised forex and non-recurring gains or losses — stood at RM2.54 million, up 48.6% from RM1.71 million in 2QFY2024.
Revenue, however, fell 19% year-on-year to RM22.4 million from RM27.66 million, dragged down by lower contributions from one-time implementation, info terminal business, managed networks, and subscription and transaction-based trading solutions.
N2N's first-half net profit rose 7.% to RM7.83 million from RM7.32 million in the corresponding period last year, despite revenue declining 11.7% to RM48.34 million from RM54.73 million. Earning per share rose to 1.4 sen from 1.31 sen.
Segment-wise, the Malaysia market contributed RM25.51 million to revenue in the first half, while regional markets — including Hong Kong, Singapore, Australia, and Indonesia — contributed RM22.83 million.
The regional segment contributed RM5.31 million in profit versus RM2.41 million from Malaysia.
For the full year, N2N expects an improved performance despite global and domestic economic uncertainties.
“The group remains resilient and has a positive outlook for 2025,” it said, citing the International Monetary Fund’s improved global and Malaysian economic growth forecasts.
N2N shares closed up 1.5 sen or 3.7% at 42 sen on Thursday, giving the group — which provides digital trading platforms, analytics, and financial market solutions — a market capitalisation of RM234.4 million. The counter has fallen over 8% year-to-date.