GPB’S RENEWED OUTLOOK IN THE 4G MARKET
FOCUSING SALES GROWTH ACTIVITIES WORLDWIDE
Key Highlights of Green Packet Berhad Performance:
- A gain of RM152 million from the dilution of interest in a subsidiary from 55.0% to 31.1% was recorded in the current quarter resulting in shareholder funds increasing to RM175.0 million.
- The Group’s revenue gained by 6% Q-o-Q and 8% Y-o-Y RM150.8 million with increased contribution from Software & Devices business pillar and Communications business pillar.
- Group EBITDA registered at negative RM1.4million with lower contribution from
Broadband business pillar and higher one off direct costs.
KUALA LUMPUR, 20 November 2014: Green Packet Berhad (GPB) for the quarter ended 31 September 2014 posted a profit after tax of MYR98.16 million.
Chief Executive Officer, Kay Tan said “we entered 2014 with a clear objective in capturing WiMAX and LTE business with a split contribution of 80/20 knowingly that WiMAX giving way to the next broadband evolution, LTE. To date, we are delighted to witness that our sales performance have brought in 74% WiMAX and 26% LTE respectively. The biggest share contribution is from Asia Pacific, whereas Middle Eastern Africa and North America, Central & Latin America and Europe constitute between 8 – 10% each with 4 wins of LTE device supply contract.
In this quarter, the Software and Device business pillar saw an increase of revenue to RM39.4m, an increase of 28% compared to the preceding quarter, added Mr. Kay Tan.
Meanwhile, the Communications business pillar, NGT Networks, continues to deliver solid revenue growth of RM49.8m, an increase of 19% compared to the preceding quarter, and a 3% Q-o-Q increase in profit before tax to RM2.7m. Business gain in voice traffic from South East Asia have was contributed to the improvement of revenue.
Upon the completion of the corporate exercise reducing the company’s interest in its subsidiary Packet One Networks (Malaysia) Sdn Bhd from 55.0% to 33.1%, a gain of RM152.86m was recorded and realised in the current quarter. capitalize on partnership synergies and execute P1’s future business strategies and entry into the mobile LTE space.