Axiata Group net loss RM367m in 4Q on impairments vs net profit RM558m yr ago

Axiata Group net loss RM367m in 4Q on impairments vs net profit RM558m yr ago PDF Print E-mail
Written by Joseph Chin of theedgemalaysia.com
Wednesday, 23 February 2011 14:19
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KUALA LUMPUR: Axiata Group Bhd posted net loss of RM367.04 million in the fourth quarter ended Dec 31, 2011 compared with a net profit of RM558.28 million a year ago, mainly due to impairment recorded in the current quarter.

The telco said on Wednesday, Feb 23 the net loss of RM367.04 million was loss attributable to the owners of the company.

“The group loss after tax was RM260.8 million, decreased by 143.3% from profit after tax of RM602.4 million reported in 4Q09. This was mainly due to impairment recorded during the current quarter,” it said.

“Depreciation, amortisation and impairment in current quarter increased by RM982.6 million mainly resulted from the impairment on the investment in an associate,” it said.

Axiata said operative revenue was RM4.016 billion compared with RM3.755 billion a year ago.

However, for FY10, it posted net profit of RM1.77 billion which was attributable to the owners of the company versus RM1.65 billion in FY09. Profit after tax was RM2.116 billion compared with RM1.756 billion in FY09.

Revenue was RM15.62 billion in FY10 compared with FY09’s RM13.31 billion.