Wednesday, August 24, 2011

#Flash* Telekom Malaysia earnings up 2.3% to RM127m

KUALA LUMPUR: TELEKOM MALAYSIA BHD []'s earnings rose 2.3% to RM127.24 million in the second quarter ended June 30, 2011 from RM124.38 million a year ago, underpinned by its Internet, multimedia, data services.

TM said on Wednesday, Aug 24 revenue increased by 3.8% to RM2.23 billion from RM2.15 billion while its earnings per share were 3.60 sen versus 3.50 sen. It declared dividend of 9.80 sen compared with 13 sen a year ago.

The higher revenue, it said, was mainly due to higher revenue from Internet and multimedia, data services and other telecommunications related services. These services helped mitigate the impact of lower revenue from voice and non-telecommunications related services.

'Internet and multimedia services registered higher revenue by 21.1% to RM487.9 million in the current year quarter arising from increased broadband and UniFi customers to 1.72 million

and 109,019 respectively in the current quarter from 1.54 million and 4,051 in the corresponding quarter 2010,' it said.

TM said data revenue increased by 7.1% to RM455.0 million from RM424.9 million due to demand for higher bandwidth services.

'Operating profit before finance cost of RM237.5 million increased by 14.5% from RM207.5 million recorded in the same quarter last year largely attributed to higher revenue and other operating income,' it said.

Group profit after tax and non-controlling interests (PATAMI) increased by 2.3% to RM127.2 million as compared to RM124.4 million in the corresponding quarter in 2010. This was attributed to higher revenue, lower net finance cost, net of higher tax charge.

In the six-months period ended June 30, it said net profit fell 20.9% to RM290.54 million from RM367.33 million in the previous corresponding period. Revenue was however, 2.5% higher at RM4.38 billion compared with RM4.27 billion mainly due to higher revenue from Internet and multimedia and data services.

Operating profit before finance cost of RM469.1 million was lower by 1.3% as compared to RM475.1 million a year ago mainly due to higher operating costs and depreciation charge, and lower other operating income.

Group PATAMI decreased by 20.9% to RM290.5 million as compared to RM367.3 million a year ago mainly due to higher operating costs and lower foreign exchange gain on translation of foreign currency borrowings.

The group recorded RM49.5 million foreign exchange gains on borrowings in current period as compared to RM180.5 million a year ago.

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