Autocount Dotcom Bhd (ADB) reported a net profit of RM5.77 million for Q3 FY24, a 71.4% YoY increase from RM3.36 million in Q3 FY23. Quarterly revenue surged 88.3% to RM18.35 million, driven by strong sales of financial management software and early contributions from e-invoicing solutions.
For the first nine months of FY24, net profit rose 53.1% YoY to RM14.36 million, with revenue growing 57.1% to RM45.53 million. The software distribution segment contributed 88.9% of total revenue, with the Malaysian market generating RM39.85 million.
Key growth drivers included an increase in new clients, rising demand for digital solutions, and regulatory shifts encouraging e-invoicing adoption. The technical support and maintenance segment also grew 34.7% YoY, contributing RM3.59 million.
Managing Director Choo Yan Tiee highlighted the company’s focus on financial management software and e-invoicing, predicting continued growth in Malaysia and Singapore. ADB aims to capitalize on supportive government initiatives, such as RM50 million in digitalisation grants for SMEs, and the recent implementation of e-invoicing across Southeast Asia.
Looking forward, ADB is optimistic about its growth trajectory, leveraging IPO proceeds for R&D, automation, and regional expansion. E-invoicing is expected to become a key revenue driver, aligning with businesses’ digital transformation needs and compliance requirements.
“Our commitment to innovation and regional expansion continues to be a core pillar of our strategy.
“With our IPO proceeds fueling research and development as well as market penetration efforts, we are confident in delivering value to our shareholders and driving growth for the company,“ Choo said.
“The e-invoicing initiative is already showing early success, and we anticipate it will become a key growth driver as more businesses adopt this technology to streamline processes and meet compliance requirements,“ he said.
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