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Malaysia's Axiata Q2 profit drops 30.5 percent
August 27, 2014 / 4:45 AM / 3 years ago

Malaysia's Axiata Q2 profit drops 30.5 percent

KUALA LUMPUR, Aug 27 (Reuters) - Axiata Group Bhd, Malaysia’s biggest mobile phone operator by market value, said on Wednesday second-quarter net profit dropped 30.5 percent on foreign exchange losses, slower growth in Malaysia and acquisition costs.

Net profit stood at 447.8 million ringgit($142.07 million) in the quarter ended June 31, compared to 644.78 million ringgit a year ago, Axiata said in a filing with the stock exchange. Analysts did not provide quarterly earnings forecasts on Axiata, according to Thomson Reuters data.

“Whilst Celcom, the Axis acquisition and forex translation dragged earnings in the short term, overall good operating performance was seen in all other markets,” Axiata said.

The company, which operates in fast growing economies like Indonesia, Cambodia and Sri Lanka, announced an 8 sen per share dividend.

For the full statement, please see: bit.ly/1qtj1sy.

$1 = 3.15 Malaysian ringgit Reporting By Yantoultra Ngui; Editing by Matt Driskill

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