Gabra Malaysia

Daythree Digital Records Solid 38.1% Growth in Revenue

Managing Director of Daythree

Daythree Digital Berhad (Daythree), a leading Global Business Services (“GBS”) provider, is delighted to announce its year-end financial results for financial year end 31 December 2023 (“FY2023”), with a record-breaking revenue of RM89.9 million, marking a 38.1% increase over last year’s (“FY2022”) total of RM65.1 million.

This growth is a testament to Daythree’s strategic alignment with the surging demand in the GBS industry.

For FY2023, Daythree achieved a Profit before Taxation (“PBT”) of RM10.8 million. On excluding the one-off listing expenses of RM1.2 million, the adjusted PBT stood at RM12.0 million. This represents a significant increase from FY2022’s adjusted PBT of RM9.5 million.

The year-on-year growth in adjusted PBT of 26.3% underscores Daythree’s focus on growth, exemplified by the securing of eight (8) new brands and two (2) new lines of business from an existing client during the financial year.

Profit After Taxation (“PAT”) of Daythree saw an increase of 22.6% from RM6.2 million in FYE2022 to RM7.6 million in FYE2023. In January 2023, Daythree received approval in principle from MIDA for the tax exemption of an additional five-year term to 15 February 2027.

This exemption however will only apply upon the gazetting of the relevant tax exemption provisions, and until that time, statutory taxation remains in effect.

The growth momentum is supported by Malaysia’s digital economy aspirations and the government’s supportive policies, which have fostered a conducive environment for the GBS sector. Malaysia’s appeal as a GBS destination is further enhanced by its cost-effectiveness and minimal natural disaster risks, providing a stable platform for businesses.

The Energy & Utilities sector remains a significant contributor, with RM39.9 million in revenue, embodying the Group’s diversified strength across various segments including RM16.9 million from Fintech & Financial services, RM15.0 million from Telecommunications & Media, RM9.2 million from E-commerce & Retail, RM5.4 million from Travel & Hospitality and RM3.5 million from other sectors.

Managing Director of Daythree, Mr. Raymond Davadass shared his optimism,

We continue to prioritise understanding our clients’ unique challenges and crafting tailored solutions to drive their success. We believe that through our consultative approach, we will not only attract new partnerships but also offer long-term relationships built on mutual growth and prosperity.”

He added, “As a technology-driven company, we remain committed to innovation, focusing on embedding cutting-edge technologies into our services to boost efficiency and reduce reliance on manual labour for low value tasks. Our dedicated digital transformation team continues to seek new ways to streamline processes, eliminating wastage, and enhancing value for our clients.

With the global GBS industry on an upward trajectory, Daythree is optimally positioned to capture this growth, especially with the Malaysian GBS industry expected to expand from RM24.8 billion in 2023 to RM31.7 billion by 2027, at a CAGR of 6.3%.

This promising outlook is mirrored in Daythree’s strategic investments and utilisation of the RM33.1 million raised from the successful listing on the ACE Market of Bursa Malaysia, with a balance of RM25.2 million earmarked for further business expansion; where RM0.6 million has been utilised for recruitment of experts of the industry, RM0.3 million for the capital expenditure, RM3.3 million for working capital, RM3.7 million for listing expenses, and a maiden RM0.01 million deployed in branding, marketing and promotional activities.

As of 21 February 2024, 5:30 P.M., Daythree’s share price stands at RM0.355, indicating a market capitalisation of RM170.4 million, reflecting the confidence of investors in the Group’s strategic direction and future potential.

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