TIME dotCom records 22% increase in operating profit in FY 2014

27 Feb 2015

Malaysia’s TIME dotCom (TdC) has reported a 22% year-on-year increase in operating profit for the year ended 31 December 2014, attributing this to the growth of both local and regional data consumption at greater rates, while also noting that business had improved ‘in all its key operating subsidiaries’.

In the twelve-month period under review TdC generated a total turnover of MYR596.3 million (USD182.4 million), representing an increase of 9% against the MYR548.3 million reported for FY 2014. Revenue improvement, the company said, was mainly due to strong growth in data and data centre revenues, with the former having been supported by high demand on the company’s trans-Pacific submarine cable infrastructure. EBTIDA for the fiscal year totalled MYR228.9 million, up from MYR193.2 million in 2013, while operating profit was MYR143.9 million, compared to MYR118.0 million. Core pre-tax profit meanwhile stood at MYR143.9 million in 2014, representing a 24% annual increase.

Concurrent with the strength in data demand both at home and abroad, TdC noted that it had stepped up investment in international submarine cable systems, with capital expenditure totalling MYR254.3 million in 2014, up from MYR170.6 million a year earlier. Of that figure, the telco said that investment in the Asia-Pacific Gateway (APG) and FASTER cable systems, which connect Malaysia to the United States via Korea and Japan, along with spending on the Asia-Africa-Europe-1 (AAE-1) cable, which connects Asia to Africa, Europe and the Middle East, accounted for MYR138.6 million.

Commenting on the results, TdC chief executive Afzal Abdul Rahim said: ‘I am pleased to report another solid year … The consistency of our performance really demonstrates the strength of our network performance and overall business.’

Malaysia, TIME dotCom