TIME dotCom 1Q net profit rises to RM63.13m

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KUALA LUMPUR (May 24): TIME dotCom Bhd's net profit rose to RM63.13 million in the first quarter ended March 31, 2019, from RM62.94 million posted in the corresponding period last year.

Revenue soared by 13.8 per cent to RM262.54 million from RM230.73 million previously, the company said in a filing with Bursa Malaysia today.

The company attributed its performance for the quarter to higher sales recorded from all core product segments led by data and data centre businesses, which grew 15.2 per cent and 8.9 per cent, respectively.

“The revenue growth was also contributed by all customer groups, led by retail as a result from continued demand for TIME Fibre Home Broadband service,” the group said.

Moving forward, the group will continue to work with its partners in Thailand, Vietnam and Cambodia to create a seamless regional telecommunications network which will connect Indochina to Malaysia and Singapore.

“The group also looks to expand its data centre market presence regionally and grow its current ecosystem of customers to include interconnected players from various industries,” said the company.