TIME records 29% growth in profit before tax
By Digital News Asia May 22, 2012
TIME dotCom Berhad, listed on the main board of Bursa Malaysia, reported that its profit before tax (PBT) grew to RM29.6 million in the first quarter of 2012 from RM22.9 million in the same quarter of 2011.
The growth was driven on the back of a 16% revenue growth for the quarter, reaching RM81.3 million in Q1 2012 from RM70.1 million in Q1 2011, the Group said in a statement.
Revenue growth was driven by increased sales in data products and services within its wholesale and enterprise segments.
TIME said it would now be focusing on integrating recently acquired companies into its TIME business. These acquisitions include the AIMS Group, which provides carrier-neutral data center services; Global Transit Communications Sdn Bhd, a regional Internet service and backhaul provider for telecommunication service providers, and Global Transit Ltd (GTL) which holds a 10% interest in the Unity Cable System.
As a combined Group, TIME will be monetizing its existing network and will be offering complete connectivity solutions to regional wholesale customers. This would provide the Group with the platform to penetrate the fast-growing regional bandwidth business, it said in its statement.
RM1 = US$3.19