Prestariang bullish on earnings outlook

KUALA LUMPUR: Main Market-bound information and communications technology services provider Prestariang expects another sterling financial performance for the year ending Dec 31, 2011 (FY11) based on the company's FY10 performance and further business expansion this year.

Prestariang's chief executive officer Dr Abu Hassan Ismail told reporters following the launch of the company's initial public offer prospectus that last year's financial performance was “sterling” and expected the same for this year.

“I think once you see our first quarter results, you will know roughly what we will be making,” he said.

For FY10, Prestariang posted a net profit of RM15.1 million, a 100% increase from RM7.5 million in FY09. Revenue in FY10 rose to RM58.5 million from RM39.4 million in FY09.

The company has plans to expand geographically, venture into new business, introduce new certification programmes, set up new as well as upgrade training programmes and certifications.

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