AppAsia’s revenue surged 5 times and turned profit in latest quarterly result

(Kuala Lumpur, 22 Aug 2017) APPASIA (0119) reported net profit of RM20,000 in the second quarter of fiscal year 2017, thanks to the strong growth of its B2B e-commerce business.

APPASIA reported to Bursa Malaysia Stock Exchange that driven by the e-commerce business, the company’s second quarter revenue jumped five times, reported RM7.72 million, compared with the same quarter of previous fiscal year, RM1.18 million.

“The company’s e-commerce business grew 53.3%, and the information and communications technology (ICT) security and cloud business performance was stable.”

At the same time, the company’s FY2017 first half revenue increased from RM2.45 million, rose 2.8 times to RM9.22 million, and losses of the same period last year RM4.45 million, was narrowed to RM2.01 million.

Looking ahead, the company believes that the business transformation strategy has been effective, and the vigorous B2B market growth shall drive the overall e-commerce development.

Translated from source: The China Press.

Also available on China Press