February 20, 2014 / 5:20 AM / 4 years ago

Malaysia's Axiata Q4 profit almost flat as Indonesia drags

KUALA LUMPUR, Feb 20 (Reuters) - Axiata Group Bhd, Malaysia's biggest mobile phone operator by market value, said on Thursday fourth-quarter net profit was almost flat as revenue just about offset high costs and foreign exchange losses from its Indonesia operations.

Net profit stood at 575.6 million ringgit ($174.72 million)in the quarter ended Dec. 31, up 0.8 percent from 571.1 million ringgit a year earlier, Axiata told the stock exchange on Thursday.

"Excluding Indonesia, the group's performance would have registered significantly strong double digit growth at all key lines of revenue, EBITDA and profit after tax," Axiata said.

The company, which operates in fast growing economies like Indonesia, Cambodia and Sri Lanka, announced a 14 sen per share dividend.

Net profit for 2013 rose 1.6 percent percent to 2.55 billion ringgit from 2012. The average estimate of 26 analysts polled under Thomson Reuters Eikon stood at 2.74 billion ringgit for full-year profits.

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