TIME dotCom Berhad announced another quarter of double-digit growth in revenue for the three months ended 30 June 2014.
The group posted revenue of RM155.7 million for the second quarter of 2014 (Q2 2014), an increase of RM21.6 million or 16.1% from the same period a year ago. The revenue growth was driven by higher data sales and improved data centre contributions, it said.
Similarly, operating profit rose 11.4% year-on-year (YoY) to RM36.8 million on the back of improved revenues across TIME’s Wholesale, Enterprise and SME & Consumer segments.
“We are pleased with the continuity in the growth of all our three businesses,” said TIME’s Chief Executive Officer Afzal Abdul Rahim. “We remain positive about our performance for the rest of the year.”
Group revenue for the period in review was RM23.8 million or 18.0% higher than the immediate preceding quarter (Q1 2014). The improvement came principally from higher Data revenue, predominantly from global bandwidth sales.
Operating profit jumped 63.4% quarter-on-quarter, mainly due to higher margins generated by improved global bandwidth sales.
TIME’s recent investment in the trans-Pacific FASTER submarine cable system (FASTER) is its second link between Asia and North America, after the Unity cable system. On top of expanding the group’s global network footprint, TIME said that FASTER will raise TIME’s bandwidth capacity substantially on the lucrative trans-Pacific route and allows it to offer its customers much-valued redundancy services.
According to Afzal, these investments are necessary to ensure continued revenue growth in the future and benefit the group in the long term. They will link TIME’s core telecommunications and data centre businesses in Malaysia with its international submarine cable network, and offer TIME customers a truly global proposition.