TM sets aside RM2.6b for capex

from Business Times

In its last quarter ended December 2011, TM's profit jumped 49 per cent to RM598.3 million, largely due to the recognition of deferred tax income on unutilised tax incentives. "In the last quarter, we saw strong growth in UniFi clients to 236,501. All in, we've rolled out UniFi to 1.16 million premises, covering 78 exchange areas," said Zamzamzairani. Last year, TM posted RM1.19 billion in profits on RM9.15 billion revenue. Its operating profit before finance cost of RM1.24 billion was 4.4 per cent lower than RM1.30 billion in 2010. This is because 2010 results included a RM365.3 million gain from the sale of Axiata and Measat shares while 2011 saw only a RM283.5 million gain on disposal of Axiata shares. Last year's net profit dipped 1.3 per cent to RM1.19 billion from RM1.21 billion, due mainly to unrealised foreign exchange loss on RM58.6 million borrowings. This year, TM has set aside RM2.6 billion for capital expenditure. Other key performance indicators it announced included maintaining 5 per cent revenue growth, 32 per cent profit margin and customer satisfaction measure of 72.