Maxis Q3 profit grows 1.8% on high data demand

29 Oct 2015
Daily News

Malaysia's Maxis grew its post-tax profit for the third quarter by 1.8% year-on-year to 509 million ringgit ($119.4 million), on the back of solid prepaid growth.

Service revenue grew 5.3% over the same period to 2.16 billion ringgit, as rising data consumption fueled growth in prepaid revenue.

Growth in postpaid revenue meanwhile came from subscriptions to the high-value MaxisONE plan, the operator said.

During the quarter Maxis spent 359 million ringgit to improve its LTE network, which now covers 55% of the population, including 95% in key market centers and 60% in all state capitals.

Maxis has added 1.5 million LTE customers in the last 12 months, helping total mobile internet users grow to 9 million by the end of the third quarter.

The company said it plans to further invest this year to cater to rising data demand, and anticipates a total 2015 capex spend of 1.2 billion to 1.3 billion ringgit.

“It was a strong quarter for Maxis. It’s amazing to see how Malaysians just love the Internet and we are working hard to ensure a superior 'Always On' data experience,” Maxis CEO Morten Lundal commented.

“Maxis keeps investing more than anybody in order to provide our customers the best data network with a particular focus on LTE leadership.”

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