Telekom’s first half profit down 45% but revenues continue to rise

Telekom Malaysia has reported a 45% drop in net income in the six months ended 30 June 2005, to MYR800 million (USD212 million). The company attributed the fall in profit to intensifying domestic competition and the sale of its stake in Telkom South Africa in 2004. Revenues for the period were up 3.6% to MYR6.7 billion from MYR6.5 billion a year before. The growth in turnover resulted from increased sales from Telekom’s mobile, internet, data and multimedia services. In particular its wholly owned cellular division, Celcom, posted a 6% jump in 1H revenues to MYR2.2 billion on the back of a 15% rise in subscribers to 6.14 million.