Kuala Lumpur, MY (PRWEB) December 29, 2005
Nextnation Communication Berhad and its subsidiaries (“Nextnation” or the “Group”) (MY: Mesdaq: NEXTNAT), continued to post double digit growth in terms of its revenue and profits.
Fueled by the huge increase in number of partners and customers as well as continuous strong growth in mobile data, Nextnation posted a 10% growth in revenue to RM16.8 million (USD4.5 million) for its second quarter from revenue of RM15.2 million (USD4.0 million) in its first quarter.
The Group’s profit before taxation was up 10% to RM4.22 million (USD1.1 million) from RM3.8 million (USD1.0 million)in the preceding quarter, driven by higher revenue coupled with cost efficiencies and scale. Net profit rose 10.3% or RM393,000 (USD104,800) to RM4.2 million (USD1.1 million).
Nextnation is a leading end-to-end mobile application service provider connecting to more than 600 mobile networks, supporting thousands of developers and distributors.
Nextnation’s Chief Executive Officer/Managing Director, Mr. Tey Por Yee says, “I am indeed very pleased that we have recorded yet another double digit growth in this quarter and that we continue to have higher revenue share of the market.”
Mr. Tey added “The strong financial performance is a very positive indication of the continued favorable response to Nextnation's products and services from the Group’s partners and customers. The sustained demand for products and services and the growth of mobile data services among subscribers in Malaysia will propel the Group to achieve even more success for the financial year ending April 30, 2006, as compared to the previous financial year.”
Mr. Tey added that the Group will be focusing on its regional expansion plan as Nextnation expects to reap positive returns from its overseas operations by next year. “By the end of October, 2005, Nextnation had successfully replicated its MINDCEP platform and developer modules in Singapore, Indonesia and Thailand.” Following the implementation of the platform and modules, the Group will continue its aggressive marketing efforts to expand its products and services in these countries.
The Group is also carrying out research and feasibilities studies on markets such as China, India, Europe, Vietnam and United States as the Group plans to penetrate these markets in next two years.
As part of the Group’s research and development effort and plan in diversifying its revenue stream, the Group has, as of October, 2005, successfully developed a first full service mobile game engine for mobile interactive game development, hosting and worldwide deployment. As such, the Group has great plans in leveraging this game engine to create a strong foothold in the growing mobile gaming field in the region.
About Nextnation Communication Berhad:
Nextnation, a mobile application service provider, enables businesses and individuals to access, connect, and transact across today's complex global mobile networks. Its core product MINDCEP Platform is a mobile multimedia communication platform, facilitating and enabling mobile data transmission worldwide using WAP, MMS, SMS and Java technologies. MINDCEP is connected to some of the largest premium messaging networks in the world in order to offer a broad range of services from content distribution to mobile m-commerce and place the company at the forefront of this rapidly growing messaging market. Additional news and information about the company is available at http://www.nextnationnet.com.
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