Axiata's FY20 net profits slump on lower one-off gains, higher depreciation

摘要

Malaysia-based telecoms group Axiata has published its financial results for both the quarter and year ended 31 December 2020, claiming what it called a 'resilient performance in a challenging pandemic year'.On a reported basis, revenue in the full year period declined marginally, falling by 1.5% year-on-year to MYR24.20 billion (US$5.9 billion), with the group attributing the drop mainly to 'pandemic-related lockdowns posing distribution challenges and affordability in operating markets'. In the fourth quarter of 2020, by comparison, turnover was broadly unchanged against the corresponding period a year earlier, standing at MYR6.26 billion (4Q19: MYR6.27 billion).