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[Business] TIME dotCom Records 29% YoY Growth in PBT

TIME dotCom Berhad’s (TIME) profit before tax (PBT) grew to RM29.6 million in Q1 2012 (Q1,12) from RM22.9 million against the same quarter in 2011 (Q1,11).

The 29% PBT growth was driven on the back of a 16% revenue growth for the quarter, reaching RM81.3 million in Q1 12 from RM70.1 million in Q1 11.The revenue growth was driven by increased sales in data products and services within the Wholesale and Enterprise segments, according to TIME.

Chief Executive Officer, Afzal Abdul Rahim said “We continue to sustain a strong growth trend in the Wholesale business and, at the same time, made great inroads with our Enterprise segment. We have further optimised our product mix, pushing our margins higher.This drove TIME’s growth in revenue and profit indicators for the quarter.”

TIME said that it has completed its acquisition of the AIMS Group and now focusing on integrating the acquired companies into the TIME business. The AIMS Group include Global Transit Communications Sdn Bhd, a regional Internet service and backhaul provider for telecommunication service providers, and Global Transit Ltd (GTL) which holds a 10% interest in the Unity Cable System.

In a statement, it said “As a combined Group, TIME will be monetising its existing network and will be offering complete connectivity solutions to regional Wholesale customers. This provides the Group with the platform to penetrate the fast-growing regional bandwidth business. TIME expects to see positive contributions from the acquisitions in coming years.”

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