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Silverlake Axis posts 3% earnings rise in 4Q to $26 mil

Gwyneth Yeo
Gwyneth Yeo8/26/2016 06:41 PM GMT+08  • 2 min read
Silverlake Axis posts 3% earnings rise in 4Q to $26 mil
SINGAPORE (Aug 26): Silverlake Axis has reported earnings of RM77.2 million ($26 million) for 4Q16, a 3% improvement from the earnings of RM74.7 million in 4Q15.
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SINGAPORE (Aug 26): Silverlake Axis has reported earnings of RM77.2 million ($26 million) for 4Q16, a 3% improvement from the earnings of RM74.7 million in 4Q15.

During the quarter, revenue rose 32% to RM166.9 million due to the higher contribution from all of its business segments except the software project services segment, and from the appreciation of the Singapore dollar and the US dollar against the ringgit.

In particular, revenue from maintenance and enhancement services increased 45% to RM98.1 million from the larger numbers of contracts secured, and the consolidation of Symmetri Group's maintenance and enhancement revenue. Software licensing revenue was 41% higher from higher value software licensing contracts which were completed during the quarter. The group also benefited from a major sale of hardware products.

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