KUALA LUMPUR: Maxis Bhd posted a higher net profit of RM355 mil for the fourth quarter ended Dec 31, 2019 (4Q19) from RM266 mil in the same period last year.
It was mainly driven by strong postpaid growth, high and stable mobile average revenue per user (ARPU), as well as consistent growth in fibre subscriptions in both consumer and enterprise, Maxis said in a statement today.
In a filing with Bursa Malaysia today, the communications and internet service provider said its revenue improved to RM2.59 bil from RM2.44 bil previously in the same quarter.
For the financial year ended Dec 31, 2019 (FY19), the company’s net profit stood at RM1.52 bil against RM1.78 bil in FY18, while revenue rose to RM9.31 bil from RM9.19 bil previously.
Backed by strong operating free cash flow, Maxis also declared a fourth interim dividend of 5 sen net per share to bring the annual dividend to 20 sen.
Meanwhile, CEO Gokhan Ogut said Maxis has been aggressively expanding its fixed services footprint and building a strong home fibre customer base, in line with the government’s National Fiberisation and Connectivity Plan.
“Always at the forefront of technology, we are accelerating 5G and ready to deploy as soon as the spectrum is made available.
“We look forward to working with our commercial partners, the Communications and Multimedia Ministry, as well as the Malaysian Communications and Multimedia Commission, to make this happen,” he added.
On its prospects, Maxis said although it is in active engagement with the MCMC on the 5G consortium proposal, the process is at the preliminary stage.
“Therefore, we have not factored this into our FY20 guidance at this juncture. Similarly, any impact from the Covid-19 outbreak on our performance is too preliminary to determine,” it added. – Feb 20, 2020, Bernama
