Telekom Malaysia, the country's largest telecom provider, on Tuesday announced a 23.1 percent rise in net profit over 2007 to 2.55 billion ringgit (79 million dollars), led by its cell phone unit.
"The 23.1 percent rise in net profit for the year was mainly due to better financial performance of (mobile phone provider) Celcom ... and lower taxation charges," it said.
Telekom said sales grew to 17.84 billion ringgit for the period January to December 2007 against 16.40 billion a year earlier.
For the fourth quarter, net profit was up by 0.3 percent to 592.46 million ringgit, it said.
Telekom said its net profit during the quarter was trimmed by higher impairment costs on property, plant and equipment, which totaled 63 million ringgit, and investment worth 80 million ringgit.
Sales increased by 7.4 percent to 4.73 billion ringgit, mainly attributed to higher revenue from cellular, Internet and multimedia services, it said.
"The increase in cellular revenue was mainly contributed by Celcom (Malaysia) and (Indonesian unit) PT Excelcomindo Pratama arising from increased customers and usage," Telekom said.
Earnings per share stood at 17.2 sen, against 17.4 sen. Telekom declared a dividend of 87 sen per share, against 30 sen a year earlier.
Telekom said it has picked Jamaludin Ibrahim as the new group chief executive officer for unit TM International, effective March 3.
Jamaludin was the previous chief of Maxis Communications Bhd, Malaysia's largest cell phone carrier by subscribers.
Maxis was bought out last year by its major shareholder, tycoon Ananda Krishnan, and was subsequently delisted from the bourse.
Agence France-Presse - 2/26/2008 11:59 AM
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