Celcom sees better performance
KUALA LUMPUR: Telecommunications company Celcom Axiata Bhd aims to register a stronger financial performance in its current 2017 financial year (FY17) given its encouraging growth year-to-date.
According to Celcom chief executive officer Michael Kuehner, a stronger prepaid segment performance and an improvement in its service revenue had lifted the company’s results in the third quarter.
“Given our financial performance in the first three quarters of FY17, we expect our full-year top line and bottom line results to be stronger than what we have seen last year.
“I am encouraged by our overall operational turnaround that has been a work-in-progress since last year.
“Celcom has demonstrated further signs of stabilisation following concentrated measures undertaken by the company in an intensely competitive environment,” Kuehner told reporters during Celcom’s third quarter business update briefing.
The subsidiary of Axiata Group Bhd recorded a 9.3% quarter-on-quarter (q-o-q) increase in normalised earnings before interest, tax, depreciation and amortisation to RM688mil.
The improvement was driven by the company’s focus on cost optimisation.
Its overall revenue grew 2.1% q-o-q to RM1.66bil. Data revenue-wise, Celcom saw a growth of 25% year-on-year, as data consumption improves significantly.
Kuehner also said that Celcom’s capital expenditure is expected to pick up in its final quarter of the year.
Kuehner: We expect our full-year top line and bottom line results to be stronger than what we have seen last year.