Malaysia's Maxis Warns of Lower Service Revenue, EBITDA in 2018
By Yantoultra Ngui
KUALA LUMPUR, Malaysia--Maxis Bhd. (6012.KU), a Malaysian mobile-phone network operator, on Thursday warned of lower service revenue and earnings before interest, taxes, depreciation and amortization for 2018 after announcing a 11% on-year rise in net profit for the fourth quarter ended December.
Maxis said it expected service revenue to decline in low single digits with EBITDA declining at mid-single digit level this year, taking into account the impact from the "progressive termination of a network sharing arrangement."
Maxis' net profit for the October-December period climbed to 559 million ringgit ($143 million) from MYR505 million the same quarter a year ago, mainly due to higher postpaid revenue and lower cost of expenses and finance.
Revenue declined 3% to MYR2.15 billion in the fourth quarter from MYR2.21 billion a year earlier, according to a local stock exchange filing.
Shares of Maxis ended 0.5% lower at MYR6.07 after the earnings announcement.
Write to Yantoultra Ngui at email@example.com
(END) Dow Jones Newswires
February 08, 2018 06:40 ET (11:40 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.