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Monday, February 24, 2014

EA Holdings (EAH) 2013 pre-tax profit soars to RM10.22 mln (Edge)

EA Holdings Bhd's pre-tax profit for the financial year ended Dec 31, 2013, increased to RM10.22 million, from RM8.83 million chalked up in 2012.

Revenue rose to RM91.8 million during the period under review, from RM45.88 million recorded previously.

For the fourth quarter, the company's pre-tax profit rose to RM1.84 million, from RM1.60 million recorded in 2012, while revenue increased to RM23.44 million, from RM10.98 million previously.

EAH said that the better results were due to the lucrative projects secured from the public sector and enterprise sectors, and predominantly two nation-building projects from a major government agency entrusted to its wholly-owned subsidiary, EASS Sdn Bhd.

"The EAH's pipeline projects also look extremely healthy, with the current jobs in hands, amounting to approximately RM103.6 million, with the potential for an additional RM90 million for the current financial year," it said in a statement.

Meanwhile, Chief Executive Officer Mohammad Sobri Saad, said that being one of Malaysia’s leading end-to-end solutions providers, the company was fully committed to the cause of empowering its corporate clients to be more productive and operationally efficient.

He said that the company hoped to ride on the current strong momentum, to build an even stronger and sustainable set of results for the current financial year and beyond.

Besides nurturing organic growth, EAH is also actively looking out for potential companies under its stringent merger and acquisitions plan, to diversify and develop new streams of revenue.

"Given the strong foundation of the previous financial year, EAH is now starting to move to the next level of our corporate history, in our efforts to continue maximising value for shareholders," said Mohammad Sobri, adding that a move to the Main Board of Bursa Malaysia, would increase the company’s visibility with investors.

EAH involved in the business activities as follows: - Provision of software solutions mainly in Business Intelligence and data warehousing solutions and automated invoices processing solution - R&D, sales and distribution of RFID-based tracking systems and the provision of access control systems - Provision of ICT services mainly in system and infrastructure integration services and ICT consultancy services.

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