Strong postpaid growth boosts Maxis 4Q earnings, declares 5 sen dividend

KUALA LUMPUR (Feb 20): Maxis Bhd's net profit for the fourth quarter ended Dec 31, 2019 jumped 33% on-year to RM355 million from RM266 million, driven by strong postpaid growth as well as growth in both consumer and enterprise subscriptions.

In a bourse filing today, Maxis said revenue for the quarter rose 6% to RM2.59 billion from RM2.45 billion previously.

Earnings per share increased to 4.5 sen from 3.4 sen.

Maxis declared a fourth interim dividend of 5 sen per share, payable on April 16.

For the financial year ended Dec 31 (FY19), Maxis said its net profit fell 15% on-year to RM1.52 billion from RM1.78 billion. Revenue, however, rose to RM9.31 billion against RM9.19 billion in the year-ago period.

In a separate statement, Maxis chief executive officer Gökhan Ogut said FY19 saw the telecommunications provider expand its enterprise team and build partnerships with other industry players to deliver more value to businesses in Malaysia.

“Our keen focus on delivering unmatched personalised experiences has resulted in higher customer satisfaction levels for the year.

“Always at the forefront of technology, we are accelerating 5G and ready to deploy as soon as spectrum is made available,” he said.

At the midday break, Maxis shares were 0.93% or 5 sen lower at RM5.32, valuing the group at RM41.61 billion.