KUALA LUMPUR: DiGi.com Bhd posted a net profit of RM1.43 bil in its financial year ended Dec 31, 2019 (FY19), down from the RM1.54 bil recorded in the previous year.
Revenue fell marginally to RM6.29 bil from RM6.52 bil previously, it said in a filing to Bursa Malaysia today.
On a quarterly basis, the telecommunications company (telco) recorded a net profit of RM342.92 mil in the fourth quarter of FY19 against RM377.79 mil in the same period in FY18, while revenue stood at RM1.68 bil, up marginally from RM1.67 bil previously.
DiGi attributed the results to the strong performance in growth areas – Internet and digital businesses – and making strategic investments to support this growth while keeping focused on its digitisation and efficiency agenda.
“Moving forward into 2020 and the era of 5G technology, we remain focused on driving sustainable growth, efficiency and digital transformation for our customers as we upgrade our network to deploy next-generation technologies to connect customers to what matters most.
“We have initiated several partnerships via Malaysia’s first 5G OpenLab in Cyberjaya and 5G Demonstration Project (5GDP) in Langkawi to test and find viable use uses to accelerate the country’s 5G development in the near future,” it said.
The telco has also partnered with the Malaysian Digital Economy Corporation (MDEC) to ensure that more entrepreneurs, startups and developers obtain access to perform trials on next-generation 5G technology at OpenLab.
It has also collaborated with Telekom Malaysia Bhd to test the capabilities, possibilities and limitations of 5G network sharing between multiple network service operators during the 5GDP in Langkawi.
On the outlook for 2020, DiGi expects to deliver a network for best Internet experience and 5G readiness, with best in value and digital experience in connecting customers.
In FY19, the telco had invested RM753 mil in capital expenditure for information technology and network upgrades, innovated new services, matured its device financing programme and continued to transform its digital and physical channels.
“The combined effort to improve overall customer experience further shifted its revenue mix from voice to Internet and digital services, building a more sustainable runway for growth, profitability and healthy shareholder returns for the long term,” it said.
DiGi has also announced a final tax exempt single-tier dividend of 4.4 sen per share amounting to RM342 mil, payable to shareholders on March 27, 2020, bringing the total dividend for the year to 18.20 sen. – Jan 22, 2020, Bernama
