TIME 4Q profit falls despite higher revenue

by TMR

TIME dotCom Bhd recorded a 4% year-on-year (YoY) fall in net profit to RM58.21 million for the fourth quarter (4Q) ended Dec 31, 2017, due to a net loss on foreign currency exchange, higher depreciation and higher interest expenses incurred.

In a filing to Bursa Malaysia yesterday, TIME noted its revenue for the financial year increased 12.2% YoY to RM860.7 million because of its consistent data and data centre demand.

For the financial year under review, TIME declared a single-tier interim dividend of 5.3 sen per ordinary share and a special interim (single-tier) dividend of 11.9 sen per ordinary share, payable on March 28, 2018.