Datapulse Technology (BKW) H1 2024 earnings summary

Executive summary

• H1 FY2024 revenue rose 89.6% YoY to $3.138m; net profit was $301k versus a $693k loss, while total comprehensive loss reached $816k.

• Hotel activity benefited from hospitality recovery and higher average room rates; foreign-currency translation losses, mainly from KRW depreciation, weighed on comprehensive results.

Financial highlights

• Revenue was $3.138m, up 89.6% YoY; other income increased to $222k from $143k, mainly on higher fixed-deposit interest income.

• Profit before tax and attributable net profit were $301k, compared with a $693k loss in H1 FY2023.

• Staff costs rose to $865k from $737k and hotel operating expenses to $1.257m from $778k, reflecting higher hotel activity.

• Depreciation fell to $307k from $473k; other operating expenses rose to $610k from $437k, mainly due to higher professional and compliance fees.

• Total comprehensive loss was $816k versus $501k, primarily reflecting $1.117m of foreign-currency translation losses versus $192k of gains.

Outlook and guidance

• Asia-Pacific international tourism demand continues to recover; South Korea’s hotel market is expected to sustain its growth trajectory.

• Hospitality recovery in South Korea is positive, but inflationary costs, manpower shortages, FX risk and geopolitical uncertainty remain challenges.