Posted by Jimmy Song > 2017-02-28 20:46 | Report Abuse

PETALING JAYA, 28 FEBRUARY 2017 – Today, Green Packet Berhad (“Green Packet” or the “Group”) announced its fourth quarter financial results for the financial year ended 31 December 2016 (“FY2016”) with a revenue of RM371.8 million and earnings before interest, taxation, depreciation and amortisation (“EBITDA”) of RM17.4 million. The Group delivered a profit after tax attributable to owners of the company (“PAT”) of RM71.5 million mainly due continue improvement in core business earnings of RM 13.97 million, cessation of equity accounting of share of losses in associated company, Webe Digital Sdn Bhd (“Webe”) and fair value gains on reclassification from interest in associate to long term investment of RM98.2 million. The Group has ceased to equity account the share of losses from the associate company from July 2016 onwards when Webe ceased to be an associate company of Green Packet on 31 July 2016. During the fourth quarter period ended 31 December 2016 (“Q4FY2016”), the Group registered a total revenue of RM115.2 million contributed by its software and devices business amounting to RM54.2 million of the total revenue, registering 38% higher sales in Q4FY2016 as compared to year on year (“YOY”) basis contributed by improvement of sales in ASEAN and Middle East regions. Followed by revenue contribution from communication services business amounting to RM61.0 million of the total revenue, recording a higher revenue of 0.7% in Q4FY2016 as compared to YOY basis mainly due to overall improved sales from countries that Green Packet provide communication services. In line with the higher revenue contribution from software and devices business and communication services business in Q4FY2016, the Group registered an EBITDA of RM8.07 million for Q4FY2016 contributed by the software and devices business and communication services business of RM5.8 million and RM2.3 million, respectively, which was 102.2% higher on YOY basis.