Maxis Q4 profit grows 7.2%

Malaysia’s Maxis has reported a 7.2% increase in net profit for the fourth quarter to 477 million ringgit ($115.8 million), on the back of solid revenue gains.

Service revenue grew 3.2% year-on-year to 2.16 billion ringgit despite intense price-focused competition.

For the full year, profit after tax grew 0.9% to 1.96 billion ringgit, with service revenue up 3.8% to 8.23 billion ringgit.

Postpaid revenue was up 2.7% to 3.66 billion ringgit as a result of solid adoption of its MaxisONE plans, which helped compensate for declines in voice and SMS.

Prepaid revenue meanwhile increased 6.2% year-on-year to 4.18 billion riggit on the back of rising data usage and market share gains in the migrant customer segment.

During the year the company more than doubled its LTE coverage to span 71% of the population. The company accelerated its infrastructure spending to a total of 1.3 billion ringgit during 2015.

Maxis CEO Morten Lundal commented that the company plans to push on with its transformation efforts in the year ahead.

“The first phase of our transformation of becoming a high performing mobile company is more or less done. Now we have a strong foundation to push ahead with the second phase of our transformation of becoming the preferred choice for digital experience seekers,” he said.