TIME sees revenue grow 14.8% to US$128.5mil in 1H19

• Profit before tax (pre-MFRS 16) grew 23.5%
• Looking to establish itself as a regional data centre player

TIME dotCom Bhd recorded revenue of US$128.49 (RM540.4 million) for the period ended June 30, 2019, representing a 14.8% year-on-year growth. Higher sales were recorded across all core product segments. All core customer groups also contributed to overall revenue growth, led by wholesale and retail customers.

Pre-tax profit grew 23.5% to US$39.49 million (RM166.1 million) (pre-MFRS 16) from US$31.98 million (RM134.5 million) for the same period of the preceding year. This can be attributed to higher overall revenues, improved cost efficiencies and a higher share of profit from investment in associates.

Outlook

The telecommunications industry landscape in Malaysia will remain challenging in 2019 as the market is further liberalised through reforms and potential consolidation of key operators.

The group is of the view that opportunities will arise alongside any change in the industry, and will continue to monitor industry developments closely to leverage on opportunities as and when they arise.

TIME will also continue working with its partners in Thailand and Vietnam to tap the increasing demand for cross border connectivity in the Southeast Asian region.

“Access to Southeast Asian markets is still in high demand. In addition to connectivity, we are also assessing opportunities to establish ourselves as a regional data centre player in line with our strategy for business sustainability,” said TIME commander-in-chief Afzal Abdul Rahim (pic).