Malaysia's Maxis Warns of Lower Service Revenue, EBITDA in 2018

02/08/18 06:40 AM EST

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 yantoultra.ngui@wsj.com

 

(END) Dow Jones Newswires

February 08, 2018 06:40 ET (11:40 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.