KUALA LUMPUR (May 30): Datasonic Group Bhd (KL:DSONIC) posted a 70.02% year-on-year jump in its latest quarterly net profit, driven by strong demand for passports, identity cards and financial card personalisation services.

The net profit for its fourth quarter ended March 31, 2024 (4QFY2024) was RM38.6 million against RM22.7 million a year earlier, while revenue rose 10.34% to RM115.74 million from RM104.9 million, the group’s bourse filing showed.

For the full financial year (FY2024), net profit increased 20.8% to RM92.26 million from RM76.37 million in FY2023, while full-year revenue grew 6.85% to RM368.3 million from RM344.7 million.

This marks the group's highest quarterly and annual earnings to date.

Datasonic announced a fourth interim dividend of 1.3 sen per share, bringing total dividends for FY2024 to three sen, compared to two sen in FY2022.

Datasonic executive chairman Tengku Datuk Seri Abu Bakar Ahmad Tengku Abdullah said the group anticipates the high demand for passports, ID cards and financial card personalisation services to continue. The group also projects a rise in orderbook for auto-gates with facial recognition systems for foreign visitors.

In addition, new revenue streams are expected from the foreign workers segment and other businesses aligned with the group’s core competencies, Abu Bakar he said in a statement.

Additionally, Abu Bakar said that the group has secured its first overseas project in a West African country this month. The details of the contract, however, could not be disclosed due to a non-disclosure agreement, a spokesperson told The Edge.

Shares of Datasonic rose half a sen or 0.98% to close at 51.5 sen on Thursday, giving the group a market capitalisation of RM1.51 billion.