TM attributes 4Q growth to broadband services

Malaysian fixed line and broadband provider Telekom Malaysia™ has released its financial results for the three-month period ended 31 December 2008. The company, which spun off its international and domestic mobile operations in April 2008, reported a 5.7% rise in net profit year-on-year to MYR166 million (USD45.3 million), while revenue climbed 18.7% to MYR2.1 billion. Earnings before interest, tax, depreciation and amortisation (EBITDA) were up 15.3% to MYR822 million against the same period in 2007. The operator attributed the strong performance to a rise in revenue from its broadband services, which rose 29.4% to MYR392 million, and accounting for 20% of total retail revenue in the fourth quarter. TM has looked to its broadband offers to offset the decline in its fixed line voice operations; the operator’s fixed line voice customer fell by 3.1% in the twelve months to end-December 2008, to total just under 4.3 million. Broadband subscribers however rose 27% over the year to 1.6 million.