[SINGAPORE] Shares of Azeus Systems jumped as much as 16.6 per cent on Monday (Jun 2), after the company reported a surge in net profits.

 

The counter hit a high of S$14.52 at 10.59 am, up S$2.07 from its closing price of S$12.45 on May 30.

 

As at 3.20 pm, the counter had eased to S$14.27 &ndash still up 14.6 per cent &ndash with 13,800 shares transacted.

 

The net profit of the IT solutions and products provider more than doubled to HK$118.1 million (S$19.4 million) for the second half-year ended March, from HK$57.6 million in the corresponding year-ago period.

 

Its revenue for its second half rose 56 per cent to HK$305.5 million.

 

The latest results brings Azeus&rsquo full-year net profit up 96 per cent to HK$166.9 million, and its full-year revenue up 44 per cent to HK$474.8 million.

 

The company said in a bourse filing that 83 per cent of its revenue for FY2025 came from its range of software and IT solutions, Azeus Products the revenue from this line alone rose 55 per cent.

 

The increase was driven by higher contributions from the group&rsquo s proprietary products &ndash Convene and Convene Records &ndash as well as implementation services revenue under its CERKS (Central Electronic Record Keeping System) contract.

 

Revenue from Hong Kong and Asia rose 61 per cent to HK$301.7 million in FY2025. The growth was primarily attributed to the recognition of revenue from the CERKS project, which is now in the deployment phase.

 

Looking ahead, the group hopes to broaden its geographical reach and continue investing in the development of its new ESG reporting platform, said Michael Yap, the company&rsquo s chief executive officer.

 

The board has proposed a final dividend of HK$3.90 a share for the latest period. Together with an interim dividend of HK$1.60 per share paid out in February for H1, this brings the group&rsquo s total dividend for FY2025 to HK$5.50 a share.

 

The group previously paid out a total dividend of HK$2.80 a share for FY2024, comprising an interim dividend of HK$0.90 a share and a final dividend of HK$1.90 a share.

 

Azeus Systems Holdings has reported a net profit of HK$118.1 million ($19.43 million) for the 2HFY2025, bringing its FY2025 ended March earnings to HK$166.9 million, up 96% y-o-y.

 

The IT products and services company reported a revenue of HK$474.8 million for the full year, up 44% y-o-y. For the 2HFY2025, revenue grew 56% y-o-y to HK$305.5 million.

 

The growth in revenue was driven by strong growth in its products, the company says.

 

The Azeus products business segment, which accounts for 83% of the group&rsquo s total revenue for FY2025, registered a 55% y-o-y growth. This was driven by product license revenue from its proprietary products, Convene and Convene Records, and implementation services revenue under the CERKS contract.

 

The CERKS project will continue its deployment through to FY2027, as planned. Meanwhile, revenue from IT services rose 10% y-o-y in FY2025, from recurring revenue from maintenance and support.

 

As at March 31, 2025, the group&rsquo s net cash position increased by 48% y-o-y to HK$270.3 million, due to the higher revenue and resulting cash collection during the period.

 

The group has no bank borrowings or debt securities.

 

A final dividend of HK$3.90 per share will be recommended.

 

Azeus Systems Holdings has reported revenue growth of 27% y-o-y to HK$169.3 million for its 1HFY2025.

 

However, thanks to better margins, its earnings increased by a bigger magnitude of 79% in the same period to HK$48.9 million.

 

The company attributes this better showing to stronger license revenue of its proprietary products and related services.

 

Azeus, which is debt-free, had a net cash balance of HK$204.6 million as of Sept 30, up 12% y-o-y.

 

Lee Wan Lik, the company' s executive chairman says he is pleased with the " commendable results" and that Azeus will aim to continue this growth trajectory.

 

The company' s CEO Michael Yap aims to generate more growth with geographical expansion and to also invest further in product development. 

 

" We remain optimistic on the outlook of the second half and expect continued growth," says Yap.

 

IT solutions and products provider Azeus Systems Holdings has bagged a HK$1.02 billion (S$180 million) contract to design and develop the central electronic record-keeping system of bureaus and departments of the Hong Kong SAR government over a 53-month period.

 

The contract is the single largest contract secured by Hong Kong-based Azeus in corporate history, the company said on Monday (May 9).

 

The estimated contract value includes HK$633.9 million for the total implementation price, as well as HK$381.4 million for the system' s maintenance and support for 10 years following its implementation.

 

Azeus expects the contract will boost the adoption of its content and records management product Convene Records, which will be customised before being deployed across the government' s departments.

 

Some 75 per cent of the estimated contract value would be for the licence and maintenance fees of the Convene Records software. The actual total contract value will be subject to the government' s confirmation of the number of users and departments in the course of the project, the company said.

 

Azeus expects design and implementation works will begin in this month and a majority of the revenue to be contributed from its next financial year until   financial year 2037.

INFORMATION technology (IT) solutions and products provider Azeus Systems Holdings Azeus: BBW 0% has appointed Michael Yap as its new chief executive officer with immediate effect, it announced in a filing on the Singapore Exchange on Tuesday (Mar 15).

 

He will be taking over the helm from Lee Wan Lik, who stepped down from the CEO position, as well as the company' s managing director, on the same day.

 

In addition to his new role, Yap will continue to serve as deputy chairman of the company.

 

He had been serving as an independent director of the Hong Kong-based company since September 2004. He was redesignated as its executive director and deputy chairman in April 2020.

 

Yap was previously the CEO of Singapore' s National Computer Board, a government body responsible for the city-state' s overall IT policies and implementations.

 

While in public service, he also headed Singapore' s interactive digital media program office, which managed a S$500 million fund to develop the new sector in the country.

 

In the private sector, Yap served as the managing director of a enterprise software company and was responsible for its activities in Singapore and business development across the Asia-Pacific region.

 

He had also been on the board of directors of various listed and private companies in Singapore and Malaysia, as well as a partner in a venture capital firm and co-founded one himself.

 

Yap was recognised as one of the World Economic Forum' s Top 100 Future Global Leaders, as well as one of the 50 Stars of Asia by Bloomberg' s Businesweek.

 

Lee, who stepped down as CEO and managing director, will continue as founder and chairman of Azeus' board.

 

He will be steering the company' s research and development team to develop innovative technology solutions and adding capabilities to fuel its growth, Azeus noted in its filing.