KUALA LUMPUR, Jan 22 — Digi.com Bhd posted a net profit of RM1.43 billion in its financial year ended December 31, 2019 (FY19) compared with RM1.54 billion recorded in the previous year.
Revenue fell marginally to RM6.29 billion from RM6.52 billion previously, it said in a filing to Bursa Malaysia today.
On a quarterly basis, the telecommunications company (telco) recorded a net profit of RM342.92 million in the fourth quarter of FY19 against RM377.79 million in the same period in FY18, while revenue stood at RM1.68 billion, up marginally from RM1.67 billion previously.
Digi said the results were attributed to the strong performance in growth areas, namely postpaid, Internet and digital businesses, and making strategic investments to support this growth while keeping focused on its digitisation and efficiency agenda.
“Moving forward into 2020 and the era of fifth generation (5G) technology, we remain focused on driving sustainable growth, efficiency and digital transformation for our customers, as we upgrade our network to deploy next-generation technologies to connect customers to what matters most.
“We have initiated several partnerships via Malaysia’s first 5G OpenLab in Cyberjaya and 5G Demonstration Project (5GDP) in Langkawi to test and find viable use uses to accelerate the country’s 5G development in the near future,” it said.
The telco has also partnered with Malaysian Digital Economy Corporation (MDEC) to ensure more entrepreneurs, startups and developers obtain access to perform trials on next-generation 5G technology at OpenLab.
It has also collaborated with Telekom Malaysia Bhd to test the capabilities, possibilities and limitations of 5G network sharing between multiple network service operators during the 5GDP in Langkawi.
On the outlook for 2020, Digi expects to deliver a network for best Internet experience and 5G readiness, with best in value and digital experience in connecting customers.
In FY19, the telecommunications giant had invested RM753 million in capital expenditure for information technology and network upgrades, innovated new services, matured its device financing programme and continued to transform its digital and physical channels.
“The combined effort to improve overall customer experience further shifted its revenue mix from voice to Internet and digital services, building a more sustainable runway for growth, profitability and healthy shareholder returns for the long term,” it said.
Digi has also announced a final tax exempt single-tier dividend of 4.4 sen per share amounting to RM342 million, payable to shareholders on March 27, 2020, bringing the total dividend for the year to 18.20 sen. — Bernama
