The Group recorded revenue of S$7.4 million and net profit before tax of S$0.7 million for 4Q FY2011, continuing the trend of positive results seen in the previous three quarters of FY2011.

For the whole year of FY2011, Group revenue was S$24.3 million, an increase of 38.9% over the S$17.5 million revenue in FY2010. The Group’s net profit before tax was S$1.1 million in FY2011, compared with a net loss before tax of S$8.6 million in FY2010.

As at 31 December 2011, shareholders’ equity was S$5.9 million, compared with S$4.9 million as at 31 December 2010.

The Group looks forward to the next 12 months with cautious optimism as it seeks to capitalise, for its core business, on opportunities arising from the ongoing evolution of unified communications and cloud computing and hosting services.

Concurrently, the Group continues to develop its presence in other countries in the region. Its South Korea subsidiary, established in June 2011, has contributed substantially to the Group’s revenue in 4Q FY2011. A subsidiary in Malaysia was established in December 2011 and is commencing operations in the first quarter of 2012.

Management continues to seek small but attractive acquisition targets for near-term growth. In this respect, the Company will provide updates if and when any significant outcome arises.