Strong set of figures for Maxis in fourth quarter
KUCHING: Maxis Bhd’s (Maxis) earnings for the fourth quarter of 2016 (4Q16) increased by 7.7 per cent year-on-year (y-o-y) to RM504 million from RM468 million recorded in 4Q15.
The telecommunication services provider in a filing to Bursa Malaysia yesterday said 4Q16 revenue inched up by 1.75 per cent y-o-y to RM2.21 billion from RM2.18 billion generated in 4Q15.
For financial year 2016 (FY16) ended December 2016, Maxis said revenue stayed flat at RM8.6 billion while net profit gained by 15.8 per cent y-o-y to RM2.01 billion.
Meanwhile, Maxis in a statement said it delivered a solid 4Q, ending the year (2016) with a strong operational and financial performance amidst challenging market conditions.
The company continued to grow its revenue, profits andmarketshare,supported by higher average revenue per user (ARPU), strong 4G adoption, robust data usage and an industry-leading 4G Long Term Evolution (LTE) network.
Commenting on the group’s financial results for 4Q16 and FY16, Maxis chief executive officer (CEO) Morten Lundal said 2016 was a challenging yet good for the group.
“Despite the intense price competition in the market, we performed well year by focusing on offering our customers uniquely attractive value propositions.
“Our customers now enjoy a combination of lots of data at affordable prices on the best network and we’re proud to record all time high customer satisfaction.
“All in all, 2016 was a year of good progress with positive momentum heading into 2017,” he said in the statement.
The company said it is currently the first in 4G LTE network with coverage at 88 per cent of population, the widest in the country. For 2016, it invested a total of RM1.2 billion in capital expenditure primarily to increase coverage and capacity, particularly on its 4G network to deliver the best network experience.