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Axiata Group Profits Up Nearly 10%

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Malaysia's Axiata Group has reported a 20% rise in second quarter revenues to RM3.9 billion (USD1.2 billion). EBITDA grew by 38% in the same period to RM1.8 billion (USD571 million), outpacing revenue, partly due to strategic cost initiative programmes implemented early last year.

The company also reported a 9.5% increase in profit after tax and minority interest (patami) to RM577 million (USD183 million).

Regional mobile subscribers for the Group saw strong growth up 39% YoY to 138 million.

Commenting on the quarter's results Tan Sri Dato' Azman Hj. Mokhtar, Chairman of Axiata said "We are extremely pleased with the performance from successful execution of strategies achieved this quarter. The Group's focus on operations and cost has garnered positive results, a firm confirmation that we are on track towards building value. "

Dato' Sri Jamaludin Ibrahim, President & Group Chief Executive Officer of Axiata commented "We are happy with the continued strong results. We have held firm in our strategy and despite challenges we have continued to see strong sequential quarterly improvements across all major OpCos. I am especially pleased to see significant margins improvements across most key OpCos outpacing revenue, which also grew strongly. This indicates that whilst we are making revenue gains, our strategic cost initiatives are also gaining further traction. On the OpCos, we are especially pleased with continued strong performance seen at XL, Celcom and Robi, and, the major turnaround at Dialog. Emphasis on fundamentals has taken root and the business is robust".

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