, Ir Prof Frank CHAN, Vice President cum Advisor of the Working Group (3rd right), Ir Wilson KWOK, Chairman of the Working Group (3rd left), Ir Norman CHAN, Member of Working Group (2nd right), Ir Kelvin TANG, Member of Working Group (2nd left), Ir ZHOU Yan, Member of Working Group (1st right), and Ir Prof Alfred SIT, Chief Executive and Secret)
Media-OutReach Newswire
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, receiving the prize from Dennis Jang, President, Samsung Electronics Singapore (right), as the grand winner of Samsung Solve for Tomorrow 2024 in Singapore)
Hòa Bình taps agricultural tourism for sustainable development
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FinancialHighlights
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| 6 months ended 30 Sep | ||
| HK$ million | 2018 | 2017 | Change |
| Revenue | 66.3 | 34.6 | 91.6% |
| Gross profit | 42.1 | 19.1 | 120.4% |
| Profit for the period | 24.1 | 7.4 | 225.7% |
| Profit attributable to the owners of the Company | 19.7 | 7.4 | 166.2% |
| Basic earnings per share (HK cents) | 4.11 | 1.53 | 168.6% |
HONG KONG, CHINA - Media OutReach - 12 November 2018 - EFT Solutions Holdings Limited ("the Company", together with its subsidiaries, the "Group"; Stock Code: 8062) announced itsinterim result. For the six months ended 30 September 2018 ("The Reporting Period"), the Grouprecorded revenue of approximately HK$66.3 million, which representing asignificant increase of approximately 91.6%. During the Reporting Period, theGroup recorded profit of approximately HK$24.1 million, representing asignificant increase of approximately 225.7%, mainly due to the increase in thesourcing of electronic fund transfer at point-of-sale ("EFT-POS") terminals and peripheral devices and the Group's entranceinto the market of point-of-sale ("POS")software solution services starting from June 2018 through the acquisition ofEarn World Development Limited together with its subsidiaries ("Earn World Group").
During the Reporting Period, the Grouprecorded basic earnings of HK$4.11 cents per share (FY2017/18 1H: HK$1.53 centsper share).
Business Review
As a leading EFT-POS solutions providerin Hong Kong, the Group focuses on strengthening its position in the industryand take initiatives to build up more extensive business scenarios to deepenthe relationship with its customers.
During the Reporting Period, the Grouphas continued to focus on sourcing of EFT-POS terminals and peripheral devices,and provision of EFT-POS system support services and software solution servicesin Hong Kong. In addition, the Group successfully acquired EarnWorld Group and Newport Tek Pty Ltd ("Newport")during the Reporting Period, which have expanded its business to cover POSsoftware solutions in retail, distribution and accounting sectors and embeddedsystem solutions in finance, transportation and manufacturing sectors. It isanticipated that by acquiring these high-quality technical know-hows wouldenable us to provide well-rounded services to its customers and help the Groupto enlarge the market shares of software solutions business.
During the Reporting Period, the Grouprecorded revenueof approximately HK$19.1 million for sourcing of EFT-POS terminals andperipheral devices, which represented a significant increase of approximately124.7% as compared to HK$8.5 million in the corresponding period in 2017.
During the Reporting Period, the Group recorded revenue ofapproximately HK$20.6 million for provision of EFT-POS system support services,which represented an increase of approximately 25.6% as compared to HK$16.4million in the corresponding period in 2017.
During the Reporting Period, the Group recorded revenue ofapproximately HK$4.2 million for provision of EFT-POS software solutionservices, which represented a decrease of approximately 56.7% as compared toHK$9.7 million in the corresponding period in 2017.
Meanwhile, the Group recorded revenue ofapproximately HK$19.9 million and HK$2.5 million respectively for the POSsoftware solution services and embedded system solution services during theReporting Period.
FutureOutlook
The Group will strive its best effort toachieve business growth and contribution to drive for Hong Kong in smart citydevelopment. The Group aims to further expand its market share and strengthen itsmarket position in electronic payment and software solution industries byincreasing its capabilities and offering diverse and high quality one-stopintegrated services.
Looking ahead, the management of theGroup would make every endeavor to explore more business opportunities inpayment solutions so as to strengthen the Group's financial position andmaintain its growth.
Mr. Lo Chun KitAndrew, Chairman, Chief Executive Officer and Executive Director of the Group said, "The launch of faster payment system in Septemberby the Hong Kong Monetary Authority has make 2018 a ground-breaking year forelectronic payment development in Hong Kong. The usage of electronic paymentshas been gaining momentum. The Group believes that merchants look forward to asecure and comprehensive electronic payment solutions as well as EFT-POSterminals, we expect soaring demand for our payment terminals and the relatedpayment solutions services. The group will continue to look for expansionopportunities in order to increase market shares, consolidate our marketposition, as well as maximize return of our shareholders and investors."
About EFT Solutions HoldingsLimited
EFTSolutions Holdings Limited (Stock Code: 8062) has been committed to providing afull range of electronic payment solutions, supporting software and peripheraldevices, in order to bring convenience to Hong Kong citizens and make theirlife better. It aims at providing the most suitableelectronic payment solution for different customers, as well as providingadd-value function for EFT-POS terminal, and providing terminal installationand maintenance service. Its EFT-POS terminal service covers renownedrestaurant group, railway company, banks, major chain stores and departmentstores in Hong Kong.
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