TM Sees PATAMI Jump 50% To RM568.7 Million, Declares 9.5 sen Dividend

Telekom Malaysia Berhad saw its operating revenue grow 0.3% to RM3.10 billion, propelled by Unifi’s expansion which saw
a substantial increase to 3.11 million fixed broadband subscribers. The growth was also due to TM Global’s solid 10.0% revenue growth driven by higher demand for domestic and international data services.

Profit After Tax and Non-Controlling Interest (PATAMI) rose 50.4% from RM378.0 million to RM568.7 million due to lower net finance costs and the recognition of tax credits from unutilised tax losses. Capital Expenditure allocation for the first half of 2023 stood at RM942.8 million, which accounts for 15.6% of the overall revenue for the expansion of network infrastructure to enhance nationwide coverage.

Meanwhile, the group’s Earnings Before Interest and Tax (EBIT) was lower by 10.3% at RM630.0 million from RM702.7 million, due to higher preventive maintenance costs and higher depreciation from revision of asset useful life.

The group declared a higher Interim Dividend of 9.5 sen per share.

Sharing his views as the newly minted Group Chief Executive Officer, Amar Huzaimi Md Deris said, “We are pleased with this quarter’s performance, which is marked by overall positive results across our Lines of Business (“LOBs”). These achievements further strengthen TM’s growth momentum in facing a more competitive market.”

As for expectations for the full 2023, Amar sees revenue growth to remain flat, EBIT at RM1.8 to RM2 billion while CAPEX is around 18% -20%.

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