Malaysia’s TIME dotCom has reported consolidated group revenue of MYR983.4 million (USD241 million) for its financial year ending 31 December 2018, up from MYR860.7 million in FY 2017. Of the total, the lion’s share of revenue – MYR843.1 million – was generated by ‘Data, Voice and Others’ services, up from , up from MYR700.3 million in the corresponding year-ago period. TIME noted that all ‘core customer groups’ had contributed positively to overall recurring revenue growth, with the largest revenue growth contribution having come from retail customers (up 61% year-on-year), followed by wholesale and enterprise (16% and 10% annualised growth, respectively). Meanwhile, the company posted a pre-tax profit of MYR304.8 million in FY 2018, up from MYRM193.1 million in the previous fiscal year, which it attributed to higher overall revenues, cost control, net gain on foreign exchange and a higher share of profit from investments in associates.
Speaking on the telco’s performance, TIME’s Commander-in-Chief Afzal Abdul Rahim said: ‘We’re pleased that TIME was able to sustain its competitive positioning despite the challenging market landscape in 2018.’