TIME dotCom Berhad announced today that it has recorded improved performance across all its segments, posting RM175.4 million in revenue for the second quarter ended 30 June 2016 (Q2 2016), 7.1% higher than the previous year (Q2 2015).
The company revamped its TIME Fibre Home Broadband service during the period and has seen Q2 2016 retail revenue rise 24.6% on a quarter-on-quarter basis, making up 10.4% of the it’s overall revenue.
“In March, we upped the ante in the Malaysian home broadband scene when we launched speeds of up to 500Mbps,” said TIME’s Commander-in-Chief, Afzal Abdul Rahim. “Take up has improved significantly, which goes to show that Malaysians are ready for ultrafast broadband.”
FASTER, the TIME’s second trans-Pacific submarine cable investment in partnership with Google, became fully operational on 30 June 2016, through which the company realised a gain of RM4.8 million from pre-sale activities.
In addition, the Asia-Pacific Gateway (APG) cable system, connecting Malaysia to Korea and Japan, is expected to commence operations in the later part of this year.
Domestically, TIME said it will increase efforts to gain market share and continue to deliver high-quality, uninterrupted network experiences, improved product and solution offerings and enhanced operational and cost efficiencies, while further expanding and strengthening its underlying fibre network and coverage presence.
In Q2 2016, higher revenues were registered across all segments despite lower one-off contributions from Indefeasible Rights of Use (IRU) sales and non-recurring contracts (Q2 2016: RM2.2 million, Q2 2015: RM11 million).
Excluding these, TIME said that Data grew 14.3% year-on-year on the back of stronger recurring revenues from the Enterprise and Retail (SME & Consumer) segments. Meanwhile, Data Centre and Voice revenues increased 12.1% and 10.3% respectively.
In the same period, the company’s operating profit rose 16.4% to RM42.4 million compared to RM36.4 million in Q2 2015, as all segments grew.
For the first half of the year ended 30 June 2016 (1H 2016), TIME generated RM350.6 million in revenue, a 4.5% increment from the same period a year ago (1H 2015).
The company declared a special interim tax-exempt (single-tier) dividend of 13.3 sen per ordinary share for the financial year ending 31 December 2016, which will be paid out on 30 September 2016.
