November 21, 2011
The Company is expecting an increase in total order book by end 2012
Kuala Lumpur, 21 November 2011 - Regional financial solutions specialist, EBWORX BERHAD announced today that the Company has tripled its profit after tax to RM3.0 million for the third quarter of 2011 from RM1.0 million in the preceding year. This translates to earnings per share of 1.45 sen for the current period under review. The generated revenue for the period amounted to RM13.2 million, which was mainly derived from ongoing projects and new projects secured during the quarter.
The current year to date revenue stands at RM37.1 million with a profit after tax of RM8.6 million. Last year, the Company registered revenues amounting to RM24.6 million, with a profit after tax of RM3.8 million.
Chief Executive Officer of eBworx, Mr. Tan Suan Fong commented, "We are pleased with our third quarter results. Our revenue momentum is strong, having grown steadily every quarter this year. Our Group's order book has grown by almost three times since 31 December 2010, and we are expecting to increase our order book further by end 2012. We have cash reserves of close to RM30 million, on top of generating a positive operating cash flow of RM5 million during the quarter under review. Our growth prospects are sound due to our strategy to grow with tier one bank across the region. With our proven track record of implementing projects across the region, we are well positioned to assist our clients to roll out the software regionally."
Tan commented that the Company's overseas business contributed to approximately 44% of its total revenue for the first 9-months ended 30 September 2011. "We are looking to further expand our presence in our current overseas markets, considering that we have an increasing number of potential projects from financial institutions across the region." he added.
eBworx is a MSC-status company listed on the ACE Market of Bursa Malaysia. It is the region's financial solutions specialist, providing a wide array of innovative digital commerce solutions to the financial services industry. eBworx has the largest client base (of Tier-1 Banks) for credit management systems compared to the rest of its competitors with its Loans Origination System (LOS) credit management solution receiving various industry recognitions such as APICTA (Asia Pacific ICT Alliance) and International Data Corp (IDC)'s FIIA (Financial Insights Innovation Awards) in 2009 and 2010, respectively.
Recently, eBworx Digital Transaction Banker received the prestigious award in the Malaysia ICT fraternity when they were awarded the MSC APICTA Award for 2011's Best of Financial Applications. In addition to this, they have also represented Malaysia and won the coveted International APICTA 2011 for the second time, recognised as the Best Financial Application for 2011 in the Asia Pacific region. This further strengthened their position in the ICT industry as the APICTA Awards is an international awards program which aims to increase ICT awareness in the community and assist in bridging the digital divide. This provides a platform for networking and product benchmarking opportunities to ICT innovators and entrepreneurs in the region. eBworx Digital Transaction Banker is a total cash management and trade finance initiation solution built using the latest in technology, built on top of a global platform.
Search
Malaysia