TIME revenue inches up 2% in Q1 2016, recurring revenue up 22%

• Revenue from data, data centre and voice segments up 22% YoY
• However, profit before tax went down due to forex losses, etc.

 
TIME dotCom Bhd said it posted revenue of RM175.2 million in the first quarter (Q1) ended March 31 2016, compared with RM171.7 million in the first quarter of 2015. [RM1 = US$0.24 at current rates]
 
Recurring data revenue in the same period increased 23% year-on-year (YoY), while data centre and voice revenues grew 27% and 15% respectively, the company said in a statement.
 
TIME also recorded profit before tax (PBT) of RM39.3 million in Q1 2016. This is lower than the corresponding period a year ago, largely due to foreign exchange losses of RM8.1 million and lower dividend income.
 
“We have managed to deliver a decent set of numbers, which we aim to improve on in the remaining quarters,” said TIME chief executive officer Afzal Abdul Rahim.
 
The group said its investments in the Asia-Pacific Gateway Cable System (APG), connecting Malaysia to South Korea and Japan, and the Faster Cable System, connecting Japan to the United States, are expected to introduce fresh revenue sources when they become operational in the second half of 2016.
 
These cable systems, together with its existing network infrastructure and yet-to-be-completed Asia-Africa-Europe 1 Cable System (AAE-1), will enable TIME to further enhance its global network footprint and connectivity, it added.
 
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