SHAH ALAM: Time dotCom closed the first half of 2024 robustly, with sustained growth and profitability amidst an increasingly competitive landscape.
For the six-month period ended June 30, 2024, Time grew its consolidated group revenue to RM836.3 million. This was a 10.4% increase over the same period of 2023 and a result of continued demand for the Group’s data offerings driven primarily by the retail and wholesale customer segments.
The Group recorded a consolidated profit after tax of RM212.1 million from continuing
operations for 1H 2024. This can be attributed to higher revenue leading to stronger
operating performance, lower write-offs and impairments and higher interest income.
“The Group’s focus remains on expanding network coverage to reach and deliver the best
service experience to our customers. We’ll continue to keep a close eye on the market so
we can meet evolving market demands,” said Time commander-in-chief Afzal Abdul Rahim.
The Group declared a special interim tax exempt (single tier) dividend of 18.93 sen per
ordinary share, amounting to a total payout of approximately RM350.0 million. The dividend will be paid out on Sept 25, 2024.
In a statement today, the Group said it is cognisant of external and other market factors that could impact the performance and long-term growth. To mitigate any adverse effects on its business, the Group remains vigilant as it monitors developments in the market landscape.
The Group also said that it continues to invest in its network and is committed to expanding its coverage footprint.
Concurrently, the Group is optimising its operations and enhancing its approach
to deliver market-leading products and services across all of its customer segments. The
Group also continues to augment its commitment to sustainability.
