Alternative Malaysian broadband provider TIME dotCom (TdC) has published its financial results for the three months ended 30 June 2014, posting what it termed ‘another quarter of double-digit growth in revenue’.
In the period under review, TdC generated a total turnover of MYR155.7 million (USD48.1 million), representing a 16.1% increase against 2Q 2013, with growth said to have been driven by higher data revenues from global bandwidth sales and non-recurring contracts totalling MYR21.0 million. EBITDA in the second quarter of 2014 stood at MYR58.3 million, up from MYR50.9 million a year earlier, while operating profit increased by 11.4% year-on-year to MYR36.8 million on the back of improved revenues across TdC’s Wholesale, Enterprise and SME & Consumer segments. Core profit before tax meanwhile was also MYR36.8 million, up by 13% against the MYR32.6 million reported for 2Q13.
Commenting on the company’s quarterly financial performance, TdC chief executive officer Afzal Abdul Rahim said: ‘We are pleased with the continuity in the growth of all our three businesses … We remain positive about our performance for the rest of the year.’