Malaysia's mobile phone operator DiGi said Tuesday its net profit in the quarter through December rose 22 percent from a year earlier, buoyed by growing subscriber base and higher revenue.
The company, a unit of Norway's Telenor ASA, said it earned a net profit of 293 million ringgit (US$91 million; euro61 million) during the quarter, while revenue rose 22 percent on-year to 1.18 billion ringgit (US$365 million; euro246 million).
For the full year, its net profit soared to 1.06 billion ringgit (US$328 million; euro221 million), up 32 percent from 2006. Revenue for the full year rose 19 percent on-year to 4.36 billion ringgit (US$135 million; euro91 million).
It said its customer base in 2007 grew to 6.4 million from 5.3 million at the end of 2006.
DiGi said it expected the Malaysian mobile market to remain favorable in 2008, with growth in the cellular broadband market. It targets a five percent growth in 2008 net profit.
The company expects to spend up to 800 million ringgit (US$248 million; euro167 million) to roll out its third-generation or 3G services over the next three years. But it said 3G services would only contribute to its revenue in the medium to longer term.
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