TIME dotCom recorded a consolidated Group revenue of RM757.6 million for the six month ended which is an 8.5% growth over the same period in 2022. Revenue growth was driven by the Retail and Enterprise customer segments while demand for its data offerings grew 13% by RM72.6 million to RM641.1 million.
The Group recorded a consolidated profit after tax of RM2.37 billion for the period under review. Adjusting for one-off items, the Group’s consolidated profit after tax stood at RM206.1 million for 1H FY2023 compared to RM188.7 million recorded for the same period in FY2022.
Time said the performance for the first half of 2023 has been heavily influenced by the AIMS’ strategic partnership, which the Group successfully closed on 20 April 2023. As a result of the proceeds received from this strategic partnership, Time is well-positioned to accelerate its expansion plans for its network coverage and product suite.
“The Group is pleased with its 1H 2023 performance and we are confident the strategic decisions we have made will continue to yield results for the Group in the long run. However, we remain vigilant and continue to keep an eye on external conditions that may impact the business,” said Afzal Abdul Rahim, Time’s Commander-in-Chief.
The Group declared a special interim tax-exempt (single-tier) dividend of 16.25 sen per ordinary share. The dividend will be paid out on 15 September 2023.
