
Dagang NeXchange Berhad ("DNeX") registered a 41 per cent increase in revenue to RM72.2 million in 2Q FY2019 as compared to RM51.2 million in the second quarter ended 30 June 2018 ("2Q FY2018"). Profit after tax ("PAT") in 2Q FY2019 rose to RM12.6 million or 9 per cent higher than RM11.6 million in 2Q FY2018.
During the quarter, DNeX's revenue benefitted from the Makkah Route project where the company provided on-site facilitation and communications connectivity for pre-clearance of Malaysian and Indonesian pilgrims, maintenance contract of the Integrated Government Financial & Management System ("iGFMAS") project, and trading and services from the Energy division.
The Group's profitability during the quarter meanwhile gained from trade facilitation and eCommerce and billing of the Makkah Route project as well as improvements in system integration and consultancy business.
For the six months period ended 30 June 2019 ("1H FY2019"), DNeX's revenue increased by 15 per cent to RM141.1 million as compared to RM122.3 million in 1H FY2018 as both IT and eServices and Energy divisions reported higher year-on-year revenue growth.
The IT and eServices division continued to be the primary revenue contributor to the Group, representing 82 per cent of total revenue. Benefitting from stronger crude oil prices, contribution from the Group's share of result of associate, Ping Petroleum Limited ("Ping"), which is involved in upstream exploration and production increased to RM13.9 million in 1H 2019 from RM12.6 million previously.