KUALA LUMPUR: Digi.com Bhd’s (CelcomDigi) counter was mostly in the red for this morning’s trading session after announcing lower net profit for the financial year ended Dec 31, 2022 (FY2022).
Its headline net profit of RM764 million in FY2022 was impacted by additional depreciation and finance costs resulting from the harmonisation of accounting treatment and merger-related costs, as well as Cukai Makmur.
The Celcom-Digi merger has also resulted in higher operating costs namely staff, operations & maintenance costs, and Universal Service Provision fund and licence fees, Public Investment Bank Bhd said in a note today.
Revenue for the period, however, increased marginally to RM6.77 billion against RM6.33 billion a year earlier, the company said in a filing with Bursa Malaysia on Friday.
Going forward into FY2023, Hong Leong Investment Bank Bhd forecasts its earnings before interest, taxes, depreciation and amortisation to be flat to low single-digit increase, while capital expenditure/revenue to be 15 per cent to 18 per cent, which will include all planned investments and ongoing merger integration activities.
‘’In turn, FY2023-FY2024 profit after tax and minority interest (PATAMI) projections were revised by 48 per cent and 63 per cent respectively,’’ it said.
At 12.30 pm, Digi eased 2.0 sen to RM4.33 with 721,700 shares changing hands on Bursa Malaysia. – BERNAMA
