Green Packet posts 8% increase in Q2 group revenue
By Digital News Asia September 3, 2012
- Group EBITDA increases to RM4.3 million, a 191% improvement Y-o-Y
- Gains 9,000 broadband subscribers and reaches 410,000 broadband subscriber base
GREEN Packet Berhad posted second-quarter revenue of RM138 million (US$44.1 million) with a positive EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of RM4.3 million (US$1.4 million), up 8% and 191% respectively year-on-year.
Since December 2011, the Group has been showing a positive trend in terms of revenue and profitability, Green Packet said in a statement on its results for the second quarter ending June 30, 2012.
Its P1 pillar contributed RM88 million (US$28.1 million) to the Group’s revenue and registered a positive EBITDA of RM5.6 million (US$1.8 million) for the second quarter 2012, representing a 129% improvement year-on-year from the loss reported previously.
“We are pleased that Green Packet’s subsidiary, P1, has been transformed into a total-integrated broadband operator with fixed, wireless broadband and fiber optics,” said Puan Chan Cheong, Green Packet group chief executive officer and group managing director.
“It has also gained 9,000 broadband subscribers this quarter and reached a 410,000 subscriber base,” he added.
In addition, P1 has acquired 20,000 voice subscribers this quarter and currently has 50,000 voice subscribers. P1 is expected be on track of hitting its 500,000 total subscribers target by year-end, Green Packet said in its statement.
Its Greenpacket Solutions subsidiary posted flat growth with a revenue of RM21 million in the second quarter of 2012, due to the challenging WiMAX market conditions in the light of the latest LTE (Long-Term Evolution) developments, the company said.