- Consolidated Group revenue grew 17.7% year-on-year to RM737.6 million in 9M 2018
- Year-to-date pre-tax profit grew to RM225.6 million in 9M 2018
- Growth recorded across all core customer groups, led by retail customers
Shah Alam, 27 November 2018 – TIME dotCom Berhad (“TIME” or “the Group”) has posted its results for the nine months ended 30 September 2018 (9M 2018) with a consolidated revenue of RM737.6 million, a 17.7% or RM110.9 million year-on-year (y-o-y) increase from RM626.7 million recorded for the nine months in the preceding year.
This is mainly attributed to higher recurring sales recorded from the data (+25.3% y-o-y) and data centre (+13.4% y-o-y) businesses. All core customer groups contributed positively to overall revenue growth, with the highest growth coming from the Group’s retail customers on the back of continued demand for its TIME Fibre Home Broadband services.
Pre-tax profit stood at RM225.6 million in 9M 2018, compared to the RM135.9 million recorded in 9M 2017, owing to higher overall revenues despite lower one-off non-recurring contracts and a higher share of profit from investment in associates.
“We are pleased that we have been able to sustain our growth and will continue to keep an eye on the changes in the domestic telecommunications industry,” said Afzal Abdul Rahim, TIME’s Commander-in-Chief.
The Group expects the industry to remain challenging for the remainder of 2018 as market players adjust their pricing to remain competitive. It believes that the strategies that have been put in place will grow its market share over the long term. Improvement and expansion of its domestic fibre network footprint continues to be a priority as it grows its retail customer base.
On the regional front, the Group will work with its associates in Thailand and Vietnam to connect Malaysia, Singapore, Myanmar, Cambodia and Laos. The Group will also explore opportunities to expand its data centre market presence regionally and grow its current ecosystem to include interconnected players from various industries.
Note: Analysis and comparisons have been made excluding the impact of MFRS 15 for better comparability purposes.
This press release contains forward-looking statements that reflect the current views of TIME dotCom Berhad (TIME) management with respect to future events. The words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “project”, “should” and similar expressions including all statements that are not historical facts are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties, most of which are difficult to predict and are generally beyond TIME’s control, including, without limitation, general industry and economic conditions, competition from other companies and avenues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, governmental policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. Forward-looking statements are based on current plans, estimates and projections, and therefore too much reliance should not be placed on them. TIME does not intend or assume any obligation to update these forward-looking statements.
TIME is a telecommunications provider that delivers domestic and global connectivity, data centre and managed services to customers across ASEAN. Powering TIME’s businesses are its fibre optic network assets that span Malaysia, Singapore, Thailand and Vietnam – countries in which it has an established operational presence. TIME’s network extends beyond the region via its stakes in Unity, Faster, Asia Pacific Gateway (APG) and Asia-Africa-Europe-1 (AAE-1) subsea cable systems that cover two thirds of the globe. TIME is headquartered in Kuala Lumpur. Visit http://www.time.com.my for more information. TIMECOM.
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