SNS Network Technology Berhad (KLSE:SNS) has released its full year 2024 financial results, which show a decline in revenue, net income, profit margin, and earnings per share compared to the previous year. Revenue for the year was RM1.28 billion, down 9.1% from FY 2023, while net income was RM32.0 million, a decrease of 27% from the previous year. The profit margin also declined from 3.1% in FY 2023 to 2.5% in FY 2024, primarily due to lower revenue. Earnings per share dropped from RM0.05 to RM0.02.
In terms of revenue and expenses breakdown for the trailing 12-month period, the Sale of ICT Products segment was the primary driver behind revenue, contributing RM1.26 billion or 99% of total revenue. However, cost of sales amounted to RM1.18 billion or 92% of total revenue and impacted earnings.
The largest operating expense was Sales & Marketing costs totaling RM33.8 million or 53% of total expenses.
While SNS Network Technology Berhad’s shares have seen a slight increase of 1.9% from a week ago, investors should be aware of two warning signs highlighted in the company’s risk analysis.
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