TIME Q2 2014 revenue up 16%, driven by data sales
By Digital News Asia August 25, 2014
- Q2 operating profit rose 11.4% to RM36.8mil
- Revenue growth driven by higher data sales and improved data centre contributions
TIME dotCom Bhd said it posted revenue of RM155.7 million for the second quarter of 2014 (Q2 2014) ended June 30, an increase of RM21.6 million or 16.1% from the same period a year ago.
Revenue growth was driven by higher data sales and improved data centre contributions, the company said in a statement.
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. [RM1 = US$0.31]
“We are pleased with the continuity in the growth of all our three businesses,” said its chief executive officer Afzal Abdul Rahim (pic).
“We remain positive about our performance for the rest of the year,” he added.
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 is its second link between Asia and North America, after the Unity cable system. Together, they give TIME greater opportunities to satisfy data demand between the two continents, the company said.
On top of expanding the group’s global network footprint, 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, it added.
The Group's other submarine cable links, AAE-1, which connects Asia and Europe via the Middle East, and Asia-Pacific Gateway (linking Asean and Japan) position TIME as a global infrastructure player, the company declared.
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, he claimed.
TIME dotCom expects moderate growth in 2014
TIME invests in Faster to keep pace with IP traffic demand
TIME expects continued growth with expansion of global network
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