EFT Solutions posts quarterly revenue, profit growth big time year-on-year

FE Online Desk | Published: August 09, 2018 13:48:35 | Updated: August 09, 2018 14:11:03

EFT Solutions Holdings Limited has announced its first quarter results with its revenue and profit increasing significantly by roughly 162.5 per cent and 373.7 per cent respectively.

For the three months ended on June 30, 2018, it recorded revenue of roughly HK$31.5 million, roughly up by 162.5 per cent from HK$12.0 million in the corresponding period in 2017.

During the same period, the Hong Kong-based company saw profit of roughly HK$9.0 million, representing a significant increase of roughly 373.7 per cent, according to a Media OutReach-forwarded statement.

The profit increase was attributed mainly to the increase in the sourcing of electronic fund transfer at point-of-sale ("EFT-POS") terminals and peripheral devices, among others.

Mr Lo Chun Kit Andrew, chairman, chief executive officer and executive director of the group, anticipated a boom in the electronic payment industry, adding that it will become more popular with various ways of usage.

“The group will continue to look for local and overseas expansion opportunities in order to increase market shares, consolidate our market position, as well as maximize return of our shareholders and investors."

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