Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 29 November 2016, 22:00 HKT/SGT

Source: Maxnerva Technology Services Limited
Maxnerva FY2016/17 Interim Profit Skyrockets to Approximately HK$48.6 million
- New I.T. Integration & Solutions Service Business Brings in Meaningful Contributions;
- Committed to Develop Industry 4.0 Services to Drive Future Growth

HONG KONG, Nov 29, 2016 - (ACN Newswire) - Maxnerva Technology Services Limited ("Maxnerva" or the "Group"; stock code: 1037), an IT services and solutions provider, has today announced its unaudited condensed consolidated interim results for the six months ended 30 September 2016. Both revenue and profit grew significantly with the newly added Information Technology ("I.T.") Integration and Solutions Service Business which commenced during the year ended 31 March 2016.

Financial Highlights

- Turnover surged 401.0% to HK$242.2 million mainly contributed by the new I.T. Integration and Solutions Services business
- Gross profit soared from HK$12.5 million to HK$88.8 million
- Profit surged from approximately HK$1.5 million to 48.6 million
- Basic earnings per share attributable to owners of the Company were HK7.34 cents
- Cash and cash equivalents amounted to approximately HK$208.7 million

For the six months ended 30 September 2016, turnover from the Group was approximately HK$242.2 million, representing an increase of 401.0% (2015: approximately HK$48.3 million). The increase in turnover was mainly contributed by the new I.T. Integration and Solutions Services business which, with its higher gross profit margin, also helped to improve the Group's gross profit which surged to approximately HK$88.8 million (2015: approximately HK$12.5 million). Net profit for the Group increased by HK$47.1 million to HK$48.6 million (2015: approximately HK$1.5 million). Total cash and cash equivalents as at 30 September 2016 were approximately HK$208.7 million (31 March 2016: HK$216.2 million).

The Board of Directors does not recommend any payment of an interim dividend.

Mr. Hui Lap Shun, John, Chairman of Maxnerva Technology Services Limited, said, "Last financial year, the Group has undertaken a significant change in its business focus, creating a new I.T. Integration and Solutions Services segment to serve the rapidly growing Industry 4.0 market. The new business segment has generated fruitful returns for the Group, showing that our transformation strategy is heading in the right direction. Apart from fostering a strategic business relationship with Hon Hai, the world's largest electronics manufacturing services provider, the Group also entered a collaboration agreement with Siemens Industry Software (Shanghai) Company Limited in the development of Industry 4.0 solutions during the review period. By cooperating with a leading global technology partner, the Group aims at delivering a clearly differentiated market position as a strong new entrant in the technology integration and solutions market."

During the review period, the I.T. Integration and Solutions Services business has become the Group's main revenue driver. It encompasses providing project-based system integration services in the area of smart factory and smart office initiatives and the sale of I.T. products. The revenue generated from the I.T. Integration and Solutions Services amounting to approximately HK$186.5 million accounted for approximately 77.0% of the Group's total revenue during the six months ended 30 September 2016.

Revenue from the Electronic Products Manufacturing business was approximately HK$55.6 million, representing an increase of 15.1% or approximately HK$7.3 million compared with the same period last financial year. This segment recorded a loss of HK$4.8 million during the six months ended 30 September 2016 compared to a segment profit of HK$3.4 million for the six months ended 30 September 2015.

"Looking ahead, the management believes that the commercial opportunity in providing Industry 4.0 services is enormous as evidenced by the growth of the I.T. Integration and Solutions Services business which has become the major revenue driver of the Group. In light of this, the Company is allocating more resources to expand this business segment and broaden our customer base.

On the other hand, the performance of the Electronic Products Manufacturing business started to deteriorate in the previous financial year and the disappointing performance has continued in the first half of this year as a result of increased labour costs, more keen competition and decline in the number of customers. We will closely monitor the situation and if it remains sluggish, the Directors will take all possible measures to manage the situation in response to the changing business environment and protect the interest of the shareholders." Mr. Hui concluded.

About Maxnerva Technology Services Limited

Maxnerva Technology Services Limited is a system integration specialist. The Company is mainly engaged in the provision of system and network integration, I.T. solutions development and implementation, and related maintenance services. Maxnerva's solutions enable businesses to scale rapidly and efficiently, capturing and turning physical data into smart decisions.

Strategic Financial Relations Limited
Mandy Go     +852 2864 4812
Rachel Wong  +852 2864 4873
Fax: +852 2527 1196 / 2804 2789 

Nov 29, 2016 22:00 HKT/SGT
Source: Maxnerva Technology Services Limited

Topic: Press release summary
Sectors: Enterprise IT, Daily News, Digital
From the Asia Corporate News Network

Copyright © 2017 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Latest Press Releases
HM International Holdings Limited Strives to Strengthen Leadership as Provider of Best-in-class BPO Solutions for Corporate Clients  
Feb 21, 2017 16:23 HKT/SGT
18th Hong Kong Jewellery Design Competition Winners  
Feb 21, 2017 15:50 HKT/SGT
Gemalto and Microsoft Join Forces to Provide Seamless Connectivity for Windows 10 Devices  
Feb 21, 2017 14:00 HKT/SGT
NEC Introduces Wireless Transport Solution with AI Analytics for the 5G era   
Feb 21, 2017 13:08 HKT/SGT
MHI Thermal Systems to Launch 17 Room Air-Conditioner Models in Three New Series  
Feb 21, 2017 10:44 HKT/SGT
Hong Kong International Diamond, Gem & Pearl Show and Hong Kong International Jewellery Show Kick Off Next Week  
Feb 20, 2017 18:00 HKT/SGT
NEC and NTT DOCOMO Conduct 5G Base Station Verification Trials of Massive MIMO Technology  
Feb 20, 2017 16:09 HKT/SGT
Revenues for Communications Service Providers to be Boosted by NEC's AI   
Feb 20, 2017 15:46 HKT/SGT
Singaporean PETC 2017: Bridging Investment Opportunities in Asian Companies  
Feb 20, 2017 11:00 HKT/SGT
Fujitsu Support for Blakiston's Fish Owl Habitat Survey Honored by Japan Nature Conservation Awards  
Feb 20, 2017 10:31 HKT/SGT
More Press release >>
 News Alerts
Copyright © 2017 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 5791 1818

Connect With us: