Big money, big money!
MY EG Services Bhd recorded a net profit of RM78.46 million for the third quarter ended September 30, 2021 (Q3FY21) with a growth of 10.91% year -on -year (yoy) from RM70.74 million as a result of new concession services, new services and an overall increase in volume. transactions for existing services.
According to exchange filings, e-government service providers found earnings per share up 1.1 sen from 1 sen.
Quarterly revenue of RM156.8 million increased 15.2% from RM136.1 million a year earlier.
Contributions from its new commercial services under the Covid-19 health screening, MySafeTravel and MySafeQuarantine branded quarantine collection services including an increase in online retail sales through the ‘Want to Buy’ online store also contributed to its improved financial performance.
The group added that the performance was also driven by the overall increase in the number of online transactions for its existing concessions and commercial services as more consumers chose to transact online in the wake of the spread of the epidemic.
However, MYEG's performance at 3QFY21 was slightly weaker than the previous quarter with declines of 2.75% and 3.05% in net profit and revenue from RM80.68 million and RM161.73 million respectively.
According to the group, it is due to the continued closure of its e-service centers due to the temporary closure of driving institutes following curfews under the Movement Control Order (PKP) imposed in several states has exacerbated the number of nationwide closures under PKP Enhanced from May 2021 onwards. .
For the 9 months ended September 30, 2021 (9MFY21), MYEG's net profit rose 28.21% to RM235.43 million from RM192.46 million in the same period last year while revenue increased 28.2% to RM489.99 million from RM382.17 million .
9 -month earnings per share increased to 3.3 sen from 2.7 sen.
MYEG said they expect to continue to introduce innovative services by leveraging new technologies in Malaysia as well as other countries where they are located.
MYEG shares ended 1 sen or 0.94% higher at RM1.07 with a market capitalization of RM7.93 billion.
