Malaysia’s TIME dotCom (TdC) has announced a 61% year-on-year increase in operating profit for the financial year ended 31 December 2013. With the company saying that growth had been driven by ‘robust local and global data demand’, operating profit for the twelve-month period stood at MYR118.0 million (USD37.4 million). TdC’s core pre-tax profits for the fiscal year under review stood at MYR116.2 million, representing a 58% increase from FY12. Turnover in FY 2013 totalled MYR548.3 million, up 31% from the previous year, on higher data sales and a full twelve-month contribution from the company’s data centre and global bandwidth business. Revenues from TdC’s data segment stood at MYR411.6 million in 2013, up 34% from 2012, helped it said by demand from mobile operators for their mobile node fiberisation projects to cater to consumers’ needs for faster mobile speeds. For FY13 turnover from the company’s Wholesale, Enterprise, and SME & Consumer segments climbed 43%, 21% and 16%, respectively.
In the final quarter of 2013, meanwhile, operating profit rose by 48% y-o-y to MYR28.7 million, with core pre-tax profits rising 53% to MYR28.3 million on revenue that increased to MYR149.9 million (up 23% from 4Q12).
Commenting on the results, TdC CEO Afzal Abdul Rahim said: ‘This is a phenomenal set of financial results that surpassed even our own expectations … The business is only just starting to benefit from scale, and I frankly can’t wait to see what the next couple of years has in store for us.’ With regards to future expectations, the company expects demand for higher-speed bandwidth services and fibre connectivity, from both mobile operators and individual users, across Asia to ‘remain unabated for the medium to long-term’. TdC will continue to modernise its network, while mobile node fiberisation projects for LTE network rollout by mobile operators are expected to carry on throughout the year, providing new revenue streams.