HONG KONG, CHINA - RIAUONE.COM, - 12 November 2018 - EFT Solutions Holdings Limited ("the Company", together with its subsidiaries, the "Group"; Stock Code: 8062) announced its interim result. 

 

For the six months ended 30 September 2018 ("The Reporting Period"), the Group recorded revenue of approximately HK$66.3 million, which representing a significant increase of approximately 91.6%. 

 

During the Reporting Period, the Group recorded profit of approximately HK$24.1 million, representing a significant increase of approximately 225.7%, mainly due to the increase in the sourcing of electronic fund transfer at point-of-sale ("EFT-POS") terminals and peripheral devices and the Group's entrance into the market of point-of-sale ("POS") software solution services starting from June 2018 through the acquisition of Earn World Development Limited together with its subsidiaries ("Earn World Group").

 

During the Reporting Period, the Group recorded basic earnings of HK$4.11 cents per share (FY2017/18 1H: HK$1.53 cents per share).

 

Business Review

 

As a leading EFT-POS solutions provider in Hong Kong, the Group focuses on strengthening its position in the industry and take initiatives to build up more extensive business scenarios to deepen the relationship with its customers.

 

During the Reporting Period, the Group has continued to focus on sourcing of EFT-POS terminals and peripheral devices, and provision of EFT-POS system support services and software solution services in Hong Kong. 

 

In addition, the Group successfully acquired Earn World Group and Newport Tek Pty Ltd ("Newport") during the Reporting Period, which have expanded its business to cover POS software solutions in retail, distribution and accounting sectors and embedded system solutions in finance, transportation and manufacturing sectors. 

 

It is anticipated that by acquiring these high-quality technical know-hows would enable us to provide well-rounded services to its customers and help the Group to enlarge the market shares of software solutions business.

 

During the Reporting Period, the Group recorded revenue of approximately HK$19.1 million for sourcing of EFT-POS terminals and peripheral devices, which represented a significant increase of approximately 124.7% as compared to HK$8.5 million in the corresponding period in 2017.

 

During the Reporting Period, the Group recorded revenue of approximately HK$20.6 million for provision of EFT-POS system support services, which represented an increase of approximately 25.6% as compared to HK$16.4 million in the corresponding period in 2017.

 

During the Reporting Period, the Group recorded revenue of approximately HK$4.2 million for provision of EFT-POS software solution services, which represented a decrease of approximately 56.7% as compared to HK$9.7 million in the corresponding period in 2017.

 

Meanwhile, the Group recorded revenue of approximately HK$19.9 million and HK$2.5 million respectively for the POS software solution services and embedded system solution services during the Reporting Period.

 

Future Outlook

 

The Group will strive its best effort to achieve business growth and contribution to drive for Hong Kong in smart city development. The Group aims to further expand its market share and strengthen its market position in electronic payment and software solution industries by increasing its capabilities and offering diverse and high quality one-stop integrated services.

 

Looking ahead, the management of the Group would make every endeavor to explore more business opportunities in payment solutions so as to strengthen the Group's financial position and maintain its growth.

 

Mr. Lo Chun Kit Andrew, Chairman, Chief Executive Officer and Executive Director of the Group said, "The launch of faster payment system in September by the Hong Kong Monetary Authority has make 2018 a ground-breaking year for electronic payment development in Hong Kong.

 

The usage of electronic payments has been gaining momentum. The Group believes that merchants look forward to a secure and comprehensive electronic payment solutions as well as EFT-POS terminals, we expect soaring demand for our payment terminals and the related payment solutions services.

 

The group will continue to look for expansion opportunities in order to increase market shares, consolidate our market position, as well as maximize return of our shareholders and investors." (roc/*).