Time dotCom (Time) has announced a steady growth in its financial results for the fiscal year ending December 31, 2023. The Group’s consolidated revenue saw a notable increase, reaching RM1,591.0 million, marking a 9% rise compared to the previous fiscal year.
The growth in revenue was fueled by heightened demand across all customer segments, particularly in the Retail sector. Time also experienced sustained interest in its data offerings and observed expansion in its cloud services throughout FY2023.
With a consolidated profit after tax of RM2,574.9 million, the Group showcased robust financial performance. Adjusted profit after tax, excluding special items, climbed to RM402.9 million, reflecting a 7% increase over FY2022. This uptick was primarily attributed to higher revenue, increased interest income, and a rise in the share of profit from associates.
Time’s Commander-in-Chief, Afzal Abdul Rahim expressed satisfaction with the results, highlighting the Group’s commitment to expanding network coverage while continually innovating to meet customer needs.
Time declared an ordinary interim and special interim tax-exempt dividend of 8.25 sen and 6.90 sen per ordinary share, respectively, for FY2023. Shareholders can expect these dividends to be paid out on March 27, 2024.
Looking ahead, Time remains cautiously optimistic despite heightened market competition. The Group prioritises operational efficiency, product innovation, and service enhancement to deliver an exceptional customer experience.
As part of its strategic direction, Time is focused on strengthening its core business to meet market demands and capitalise on emerging opportunities.
Additionally, the Group emphasised the integration of environmental, social, and governance (ESG) principles into its decision-making processes for sustainable long-term growth.
