Daythree Achieves Remarkable Growth, with a Record RM66.3 Million in Revenue
Strategic Expansion and Diversified Services Propel Daythree Financial Success
KUALA LUMPUR, Nov 23, 2023 - (ACN Newswire) - Daythree Digital Berhad ("Daythree" or the "Group"), a leading Global Business Services ("GBS") provider, has announced a robust year-to-date ("YTD") revenue of RM66.3 million, eclipsing the total revenue of RM65.1 million for FY2022. This impressive performance is anchored by the Energy and Utilities segment, contributing RM28.9 million, or 43.6% of the total revenue, demonstrating Daythree's resilient revenue growth amidst challenging market conditions.
Managing Director of Daythree, Mr. Raymond Davadass
Daythree reported a gross profit of RM5.0 million in Q3, down from RM6.3 million in the preceding quarter. This is primarily attributed to an increased in people costs associated with the expansion of two new revenue streams of an existing client.
The Group's profit before taxation ("PBT") stood at RM1.8 million, a decrease from RM3.6 million in the preceding quarter, primarily due to non-recurring listing expenses of RM1.2 million. Excluding the one-off expenses, the adjusted PBT for the current quarter stood at RM 3.0 million and the year-to-date PBT at RM8.8 million.
Daythree's commitment to diversification is evident in its further business expansion by securing four new clients, including a leading retailer in the region, along with three new clients in the Automotive & Financial Services sectors, which is poised to enhance the Group's revenue moving forward.
Managing Director of Daythree, Mr. Raymond Davadass expressed optimism, stating, "Our strong YTD performance despite the challenging climate is a testament to our strategic focus and adaptability. With the addition of new brands and clients, including expansion into the Retail and Travel & Hospitality sector, we are setting the stage for continued growth and diversification. Our recent accolades for Industry Excellence at domestic and regional levels, including awards for Best Use of Automation and Data Analytics, Outstanding Tech Company, and Top Investor in Digital GBS, affirm our dedication to innovation and excellence in global business services."
Daythree's listing on the ACE Market of Bursa Malaysia on 26 July 2023 further strengthen the Group's market position. Looking ahead, Daythree is well-positioned for continued growth within the GBS industry, capitalised by the global economic recovery and Malaysia's strong economic performance. According to Protege Associates Sdn Bhd, the Malaysian GBS industry is expected to expand from RM24.8 billion in 2023 to RM31.7 billion in 2027, a CAGR of 6.3%. Daythree's innovative digital tools - Daisy, Faith, and Saige - ensure its readiness to meet the evolving demands of the global business landscape.
There are no comparative year-on-year figures as Daythree was only listed on the ACE Market of Bursa Malaysia in July 2023.
As of 23 November 2023, at 12:30 P.M., Daythree's share price stands at RM0.39, indicating a market capitalisation of RM187.2 million, reflecting the confidence of investors in the Group's future.
