Maxis Telecom Predicts a Modest 2015 Outlook
Published By : 10 Feb 2015 | Published By : QYRESEARCH
The leading telecommunications provider in Malaysia, Maxis has a reason to celebrate. The company witnessed a 17 percent increase in its net profit for the last quarter of 2014, from October to December. According to reports, the net profit registered by the company amounted to a whopping $95 million. This rise in profit to a great extent is attributed by the increased revenue generated from its internet operations.
The rise in the profit earnings came as a major relief to Maxis after registering continuous decline in its net earnings for six straight quarters. Industry experts opine that the strategy adopted by the company to enforce a paradigm shift from conventional voice services to offering Internet data helped the company capitalize on the growing opportunities of the global smart phone market. As a result, Maxis was able to register impressive profit in the last quarter of 2014.
Sources revealed that the revenue earned by the mobile Internet operation of the company grew by 8.3 percent and reached 638 million ringgit. However, the company couldn’t do much in the segment of short messaging services and wireless broadband revenue. It is important to note here that in terms of profits registered for a complete financial year, the net profits slipped by 3 percent to 1.718 billion ringgit on proceeds that amounted to 8.389 billion ringgit.
Spokesperson from Maxis revealed that the company is not overwhelmed by its impressive performance registered in the year bygone. Rather it is gearing up for a fresh outlook for the fiscal year 2015. The company has projected growth in terms of revenue in modest single digits owing to the prevalence of a highly competitive environment, as told to the local exchange responsible for financial results filing as on Friday.
Maxis at present have 12.9 million mobile subscribers and enjoyed 57 percent penetration in the smart phone market by the end of 2014.