Opcom post stronger RM3.9 m 1Q net profit

OPCOM HOLDINGS BHD []'s net profit for the first quarter ended June 30, 2010 (1Q11) rose 37% to RM3.90 million from RM2.84 million a year ago due to sales of higher margin products.

In a filing to Bursa Malaysia Wednesday, July 28, Opcom's revenue climbed 17% to RM30.59 million from RM26.19 million due to the roll-out of the Fiber-To-The-Home (FTTH) supply contract awarded by TELEKOM MALAYSIA BHD [] to a subsidiary of the group.

The group registered basic earnings per share of 3.03 sen in 1Q11 versus 2.21 sen in the same quarter last year. Opcom's net asset per share stood at 57.93 sen as at June 30.

An interim dividend of 1.50 sen per ordinary share single-tier tax exempt for current financial year was paid on April 28, 2010.

On its outlook, Opcom's board was positive of the group's performance for the reaming quarters of the current financial year in view of the roll-out of a 2-year FTTH supply contract with a contract value of RM359.6 million awarded by Telekom.


Written by Yong Min Wei