TELEKOM POST 88% JUMP IN PROFIT FOR 2004

Telekom Profits

TELEKOM Malaysia Bhd has reported a big jump in net profit for 2004 and the group expects to raise its capital expenditure this year, with much of the money going towards improving its broadband business and network quality.

Also contributing to the group's 88% increase in net profit to RM2.61bil, or 78.2 sen a share, for the year ended Dec 31, 2004, from RM1.39bil, or 43.6 sen a share, a year earlier were massive exceptional gains from asset sales.

Stripping out the one-off items, Telekom's net profit was 50% higher at RM2.16bil, or 64.6 sen a share, compared with RM1.44bil, or 45.3 sen a share, previously. Revenue improved to RM13.25bil from RM11.8bil.

Labour costs amounted to RM1.53bil (ABOUT 10% OF GROSS REVENUE) during Telekom's 2004 financial year, up 13.5% from RM1.35bil a year earlier.

Commenting on the performance of subsidiary Celcom (M) Bhd, Wahid said it had a net addition of 998,000 subscribers during the year, raising its subscriber base to 5.3 million. Celcom's revenue improve by 18% to RM4.3bil and net profit, minus all exceptional items, rose 56.2% to RM853mil.

So, if you are Telekom's employee and had contributed to this result and then asked to leave, is it acceptable????? Is Telekom a good corporate citizen or are they suckers????

Management must seek optimum results and maximise the use of resources to attain results; but not at the expense of a few.......................