EFT Solutions announces FY2023/24 annual results, Net Profit increased by over 60% YoY
Proposed a final dividend of HK2.0 cents per share
Highlights:- Revenue generated from provision of system support and software solution services increased by 26.9% to approximately HK$87.7 million.
- Gross profit increased by 32.9% to approximately HK$62.2 million.
- Net profit increased by 61.8% to approximately HK$31.2 million.
- Earnings per share was HK6.51 cents. The Board recommended the payment of final dividend of HK2.0 cents per share.
HONG KONG SAR - Media OutReach Newswire - 29 June 2024 - EFT Solutions Holdings Limited ("EFT Solutions" or the "Company", together with its subsidiaries, the "Group"; stock code: 8062.HK), a leading electronic fund transfer point-of-sales ("EFT-POS") solution provider in Hong Kong, announced its annual results for the year ended 31 March 2024 (the "Financial Year under Review"). During the Financial Year under Review, the Group recorded revenue of approximately HK$127.7 million which represented an increase of approximately 14.7% as compared with approximately HK$111.3 million for the year ended 31 March 2023.
For sales of EFT-POS terminals and peripheral devices, revenue of approximately HK$40.0 million and HK$42.2 million were recognized for year ended 31 March 2024 and 2023, respectively, which represented a decrease of approximately 5.2%.
For provision of system support and software solution services, revenue of approximately HK$87.7 million and HK$69.1 million were recognized for year ended 31 March 2024 and 2023, respectively, which represented an increase of approximately 21.5% due to the increase of the provision of EFT-POS system support and software solution services.
PROSPECTS
As a leading provider of electronic payment terminal solutions in the industry, with more than 20 years of hard work and tireless exploration, the Group has strong capabilities and a solid foundation, accumulated rich experience and advanced technology, and can flexibly handle different currencies and cross-regional businesses to meet the needs of different regions, creating an excellent user experience for our clients.
As an industry leader, we will not only continue to strive to provide innovative and reliable payment terminal services for our clients, but we also hope to gradually integrate artificial intelligence (AI) with our technology, making electronic payment transactions more secure and transparent, while also helping enterprises reduce transaction costs and accelerate transaction speed, promoting the business growth of our clients, and also hoping to open a new chapter for the Group.
Relying on our continuously improving software technology and rice experience in technology implementation, the Group actively explored various overseas smart city projects during the Financial Year under Review, including providing hardware, software technology and e-wallet gateway services in different countries and cities such as South-East Asia countries, and successfully developed electronic payment terminal equipment and software technology suitable for the local environment for a bank in Mongolia. The Group is also committed to interconnecting electronic payments in different regions, so that consumers can use their local e-wallets when consuming abroad, fully seizing the opportunities in the international market.
We are aware of the critical role of big data in driving industry innovation and development. Every transaction contains valuable information, and if we properly manage and analyse these massive transaction data, we can gain insights into consumer behaviour and grasp market trends, thereby providing our clients with more precise and personalized payment solutions and enhancing their market competitiveness and operational efficiency.
Mr. Andrew Lo Chun-kit, Chairman and CEO of EFT Solutions said, "driven by the globe attaching great importance to digital transformation, the demands of provision of EFT-POS system support services and software solution services have been increased. We will continuously and actively explore various local and overseas smart city projects to provide dedicated service to customers and bring greater returns for the shareholders of the Group."
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The issuer is solely responsible for the content of this announcement.
EFT Solutions Holdings Limited
EFT Solutions Holdings Limited (Stock Code: 8062.HK) has been committed to providing a full range of electronic payment solutions, supporting software and peripheral devices, in order to bring convenience to Hong Kong citizens and make their life better. It aims at providing the most suitable electronic payment solution for different customers, as well as providing add-value function for EFT-POS terminal, and coordinating terminal installation and maintenance service. Its EFT-POS terminal service covers renowned restaurant group, railway company, banks, major chain stores and department stores in Hong Kong.
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