Time dotCom reports higher Q1 sales, focus is on cloud and data segments 


KUALA LUMPUR: TIME Dotcom Bhd reported higher sales in the first quarter, boosted by its data centre and data product groups. but net profit declined due to lower forex net gain.

Time dotCom has recently purchased a 60% stake in AVM Cloud and is completing its data centre in Cyberjaya soon, strengthening the Group’s strategic position in the cloud and data centre segments to support long-term growth.

“We remain cautious and vigilant of the challenges that will continue as a result of the protracted Covid-19 pandemic despite the steady operational and financial results the Group has delivered," TIME’s Commander-in-Chief Afzal Abdul Rahim said in a statement today.

"We will continue to prioritise network availability and stability for our customers throughout this difficult period, where remote working and learning are an ever-growing part of our daily lives,” he said.

Revenue in the three-month ended March 31 rose 12.7% to RM331.3mil.

The Group’s consolidated profit before tax eased RM0.2mil, or 0.1%, to RM125.4mil, while net profit fell 6.7% to RM91.4mil, or 15.12 sen a share.

"This was primarily the result of a lower net gain on foreign exchange of RM8.3mil in the quarter, as compared to RM27.1mil in the prior year period," it said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Time dotCom

   

Next In Business News

China’s edtech assault hits investors from Tiger to Temasek
China crackdown makes HK index world’s biggest tech loser
SMEs need new ways to rebuild business in Covid-19 era
UK economy faces US$6.3b hit from 'pingdemic', CEBR says
CPO futures may see technical correction after rally
Ringgit to trade in tight range vs US$
New warning system to sound alarm on rainforest 'tipping points'
FOREX-US$ posts second week of gains ahead of Fed meeting
Oil price edges up in weekly rebound on forecasts for tight supplies
GLOBAL MARKETS-US stock markets hit new highs

Stories You'll Enjoy


Vouchers