TIME dotCom Berhad announced its financial results for the quarter ended 31 March 2018 that saw a pre-tax profit growth of 18.8% (Q1 2018: RM66.0 million | Q1 2017: RM55.5 million) year-on-year. The company also saw a revenue growth of 5.6% year-on-year from RM218.4 million to RM230.7 million.
Excluding the impact of MFRS 15 for better comparability purposes, the company would have seen a pre-tax profit increase of 6.4% relative to the same period of the preceding year, on the back of improved cost efficiencies and higher share of profit from investment in associates.
Recurring data and data centre revenues grew RM33.5 million or 23.2% year-on-year and RM2.7 million or 10.2% year-on-year, respectively.
TIME dotCom saw growth across its core customer groups, particularly from its retail customers with continued demand for its TIME Fibre Home Broadband service from home users, it said. The group’s enterprise and wholesale customers also contributed to the higher revenues seen in the first quarter of 2018.
“We are pleased to have delivered sustained growth despite the challenging market landscape and will continue to look for opportunities to grow our business, both locally and regionally,” said Afzal Abdul Rahim, TIME’s Commander-in-Chief.
TIME dotCom said it will continue to strengthen its domestic fibre network while it intensifies efforts to extend its coverage footprint domestically. The company said the focus will remain on the consumer market with the encouraging demand that it is seeing for its TIME Fibre Home Broadband offerings.
Regionally, TIME dotCom said it plans to work closely with its associates in Thailand and Vietnam to strengthen the sustainability of both its domestic and regional operations. In particular, the group looks forward to working with its partner, Symphony Communication Public Company Limited (SYMC) in Thailand that owns a terrestrial fibre network with cross border capabilities to connect Malaysia, Myanmar, Cambodia and Laos.