TIME posts revenue growth of 17.7 per cent

KUALA LUMPUR: TIME dot Com Berhad (TIME) has posted its results for the nine months ended 30 September 2018 (9M18) with a consolidated revenue of RM737.6 million, a 17.7 per cent or RM110.9 million year-on-year (y-o-y) increase from RM626.7 million recorded for the nine months in the preceding year.

This is mainly attributed to higher recurring sales recorded from the data and data centre businesses. All core customer groups contributed positively to overall revenue growth, with the highest growth coming from the Group’s retail customers on the back of continued demand for its TIME Fibre Home Broadband services.

Pre-tax profit stood at RM225.6 million in 9M 2018, compared to the RM135.9 million recorded in 9M 2017, owing to higher overall revenues despite lower one-off non-recurring contracts and a higher share of profit from investment in associates.

“We are pleased that we have been able to sustain our growth and will continue to keep an eye on the changes in the domestic telecommunications industry,” said Afzal Abdul Rahim, TIME’s commander-in-chief.

The group expects the industry to remain challenging for the remainder of 2018 as market players adjust their pricing to remain competitive. It believes that the strategies that have been put in place will grow its market share over the long term.

Improvement and expansion of its domestic fibre network footprint continues to be a priority as it grows its retail customer base.

On the regional front, the group will work with its associates in Thailand and Vietnam to connect Malaysia, Singapore, Myanmar, Cambodia and Laos.

The group will also explore opportunities to expand its data centre market presence regionally and grow its current ecosystem to include interconnected players from arious industries.