Maxis 2012 revenues climb 1.9% but profits fall 26.5%

Malaysia’s largest cellco by subscribers Maxis has posted a 58% year-on-year fall in fourth-quarter net income to MYR378.0 million (USD121.9 million) on higher operating costs and taxes, while revenues rose by 1.8% to MYR2.31 billion in the three months ended 31 December 2012. For the full year, net profit fell 26.5% to MYR1.86 billion, as device spending and other costs rose, on revenues which crept up by 1.9% to MYR8.97 billion. The slight rise in sales was in line with total subscribers increasing by 1.6% in 2012 to 12.9 million at the end of December, in a ‘competitive, highly penetrated and fast maturing market,’ according to Maxis’ statement. It added that its total combined mobile internet and wireless broadband service users surpassed eight million at the end of the year. Approximately MYR430 million of Maxis’ total revenues in 2012 were accounted for by its fixed network division.