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Time dotcom posts higher 4Q, full year profit
by Cals Tue 25 Feb 2014, 21:30
| Time dotcom posts higher 4Q, full year profit |
| Business & Markets 2014 |
| Written by Ho Wah Foon of theedgemalaysia.com |
| Tuesday, 25 February 2014 18:10 |
KUALA LUMPUR (Feb 25): TIME dotCom Bhd, a data and telecommunications solutions provider, today reported a 61% jump in its operating profits for the financial year ended 31 December 2013 to RM118.0 million from a year earlier.
The company said in a statement this was driven by robust local and global data demand.
Revenue rose 31% to RM548.3 million on higher data sales and a full 12-month contribution from the group’s data centre and global bandwidth businesses.
“This is a phenomenal set of financial results that surpassed even our own expectations," said TIME's Chief Executive Officer Afzal Abdul Rahim.
For the fourth quarter of 2013, operating profits leaped 48% to RM28.7 million from a year earlier. Revenue increased by 23% to RM149.2 million, while EBITDA margin in the quarter also improved by three percentage points to 33%.
TIME also announced a new dividend policy that pays up to 25% of its normalised profit after tax.
Abdul Kadir added that the first dividend will be paid out in 2015 based on audited financial results for the financial year ending 31 December 2014.
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