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TIME dotCom reports solid second quarter financials

26 Aug 2014

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.’

Malaysia, TIME dotCom

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