TIME dotCom Q2 2015 revenue up 5.2%

• Strong revenue contributions from data, data centre and voice products
• Lower contributions from global bandwidth sales and non-recurring contracts

TIME dotCom Bhd posted revenue of RM163.8 million for the three months ended June 30 2015, 5.2% higher than the previous year’s corresponding period of RM155.7 million. [RM1 = US$0.24]
 
In a statement, the company attributed this to strong overall revenue contributions from its data, data centre and voice products, despite lower contributions from global bandwidth sales and non-recurring contracts.
 
“We are satisfied with our second quarter performance and are confident that our domestic and regional growth plans are on track,” said chief executive officer Afzal Abdul Rahim (pic).
 
During the period under review, the group realised a fair value gain of RM274 million from the disposal of a portion of its quoted equity investments.
 
This resulted in a consolidated profit before tax (PBT) of RM317 million, or an increase of RM271.7 million compared to RM45.3 million in the previous year, it said in its statement.

On an adjusted basis (excluding realisation of fair value gain and dividend income), consolidated PBT grew 5.4% compared with the same period last year.
 
In the first half of the year, revenue rose 16.7% to RM335.5 million compared with RM287.6 million a year earlier, while adjusted consolidated PBT (excluding realisation of fair value gain and dividend income), jumped 46.4%.
 
These improvements are due to higher data revenue underpinned by stronger contributions from global bandwidth sales and income from non-recurring contracts in the six months ended June 30, the company said.
 
TIME said it continues to see growth opportunities within the Asean (the Association of South-East Asian Nations) region.
 
“Our aim is to further leverage on our technology and know-how, and I am pleased to note that our regional expansion initiatives in the last couple of years are showing positive outcomes,” said Afzal.
 
TIME is also currently expanding its international submarine cable investments with the Asia-Pacific Gateway (APG), Asia-Africa-Europe 1 (AAE-1) and Faster cable systems currently under construction and scheduled to be completed progressively over the next two years.
 
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