TM Q4 net profit jumps almost 80% on foreign exchange gain

KUALA LUMPUR: Telekom Malaysia Bhd (TM), which saw its net profit surge 79.5% to RM277.01 million for the fourth quarter ended Dec 31, 2017 from RM154.3 million in the previous corresponding quarter on foreign exchange gain, is upbeat on its prospects for this year.
At a media briefing today, TM’s group CEO Datuk Seri Mohammed Shazalli Ramly said the group is looking at 3.5% to 4% growth in revenue this year, as it continues to aggressively execute its Perfexe 10 plans in a bid to accelerate convergence and further digitise its operations, expand its mobile network and business in TM One.
He added that the group will be introducing new products and services in July, including a rent-a-box broadband targeting at the young adults market to meet some of the needs under the Perfexe 10 initiative.
“The group foresees sustainable performance in 2018, despite competition and challenges, driven by the new execution model which prioritises its plans towards delivering relevant converged digital lifestyle services and end-to-end business solutions to all its customers,” Mohammed Shazalli said.
The group’s revenue for the fourth quarter declined slightly by 1.1% to RM3.2 billion, compared with RM3.24 billion in the same period in 2016.
For the full-year, its earnings jumped 19.8% to RM929.7 million, against RM776.03 million a year ago, while revenue grew slightly by 0.2% to RM12.09 billion, from RM12.06 billion previously driven by Internet and multimedia services.