REDtone's Q1 net profit increases
REDtone International Bhd's net profit for the first quarter ended Aug 31, 2013 rose to RM4.15 million from RM2 million in
the previous corresponding quarter due to higher contributions from its data and broadband businesses.
Revenue increased to RM36.11 million from RM30.67 million, driven by strong growth in its data segment, it said in a statement today.
"The continued earnings uptrend in the latest quarter underscores REDtone's success in turning our business around via repositioning the company in the data and broadband space," it said.
Its chief executive officer, Lau Bik Soon, said the company has come a long way since 2009 when it embarked on a plan to return to profitability and to rebuild its business by focusing on the data segment and leveraging on its core competency.
"As a result, REDtone turned in a great year in financial year 2013 with a record net profit, and now a strong set of results for our latest quarter," he said.
Lau said the company's data business was doing well and gaining traction among its three key target markets -- the corporate segment, small and medium enterprises and the government sector.
Moving forward, he said, REDtone will focus on building on the turnaround for continued strong earnings and sustainable growth.
"We will also continue to look at our three core data target groups to increase the data business, and some of the initiatives rolled out towards this end are a new data centre in Cyberjaya and the wholesale Ethernet deal with Telekom Malaysia," he said.-- Bernama