“We expect low single-digit growth because the macro environment is still not very conducive and inflation is high,” said Sood.
PETALING JAYA: Axiata Group Bhd
is eyeing up to 5% revenue growth, excluding devices, for its financial year 2023 (FY23), as it sees contributions from all operations despite the unfavourable market conditions.
The telecommunication giant’s joint acting group chief executive officer and group chief financial officer Vivek Sood said the company expects the growth momentum in some outstanding frontier markets in 2022, such as Sri Lanka and Bangladesh, to continue this year.
“We expect low single-digit growth because the macro environment is still not very conducive and inflation is high,” he told reporters after a briefing on Axiata’s FY22 results yesterday.
As for capital expenditure, Vivek said the group was allocating RM7.1bil this year.
Axiata’s net profit soared to RM9.77bil in FY22 from RM818.9mil in the preceding year, driven by improvement in earnings before interest, taxes, depreciation and amortisation (Ebitda) and a one-off net gain from the Celcom Axiata Bhd-Digi.Com Bhd merger.
Total revenue rose to RM21.73bil from RM19.99bil in FY21.
Consequently, the group’s Ebitda increased by 7.8% year-on-year to RM9.6bil, with growth across all operations, except mobile in Sri Lanka and Nepal. — Bernama
