The Group registered a profit before tax of RM648 million for the half year, compared to RM710 million for the same period in 1999, representing a reduction of 8.8 per cent.
Operating revenue climbed to RM4, 186 million for the half year, representing a robust growth of 9.3% over the same period last year. The increase in revenue is attributed to growth across the board. There has been an expansion in the fixed line customer base of 110,000 in the first half of this year as opposed to a contraction of 65,000 in the same period last year. Voice telephony has grown by 5%. Cellular revenue increased by 8%, while Internet access revenue increased by 40%.
Net operating profit increased by 19.9%. Profit after tax, at RM371 million after minority interest is reported for this period, compared to RM683.5 million in 1999.
In terms of earnings per share, this result represents 12.1 sen per share, as opposed to 22.8 sen per share in the first half of 1999.
Group operating costs increased from RM3, 029 million in the first half of 1999 to RM3, 256 million for the same period in 2000. Bad debt provision registered 6.2% of total turnover in this period compared to 6.4% for the corresponding period last year. This is expected to decline with the increase in prepaid cellular subscribers and continued strict policy in credit management. Labor costs increased by 11.6% largely due to higher increment. Staff productivity increased in the first half of 2000 with the fixed line per employee ratio rising from 174 to 178.
