Business

Time dotCom’s Q3 pre-tax profit slips to RM37.2m

KUALA LUMPUR, Nov 27 – TIME dotCom Bhd’s pre-tax profit declined to RM37.22 million in the third quarter (Q3) ended Sept 30, 2012 compared with RM41.94 million in the same quarter last year.

Revenue for the quarter however rose to RM110.07 million from RM76.98 million last year, the company said in a filing to Bursa Malaysia today.

Its Chief Executive Officer Afzal Abdul Rahim, in a separate statement, said that the 43 per cent jump in revenue for the quarter was boosted by fresh contributions from its new regional business and higher data revenue from existing businesses.

He said revenue has been trending upwards, thanks to the company’s new regional businesses.

“Group revenue at the nine-month mark amounted to RM297.3 million, higher by 29 per cent from a year ago with 14 per cent contribution from the new acquisitions,” he said.

With the integration of its acquisitions completed, TIME is now growing on two fronts – the Malaysian market and the regional bandwidth business.

Commenting on prospects, Afzal said engines of revenue and earnings growth will continue to come from the fixed-line business, the newly-acquired data centre business and the international sub-sea cable business.

He said TIME will continue to invest and improve its footprint in Malaysia, focusing on the Klang Valley and Penang, by providing connectivity to these regions.

The expansion will focus on high-rise business and residential buildings, and customers will be able to subscribe to any of TIME’s high-speed Internet products.

He added that residential customers will be able to enjoy home broadband speeds of up to 100Mbps, the highest speeds available to residential customers anywhere in Malaysia, bundled with Astro B.Yond IPTV packages. – Bernama

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