Telecom Digital annual profit climbs 68.6%

The telecom company recorded a profit of $135.2m in the year ended March 2021.

Telecom Digital Holdings Limited reported its profit increased 68.6% year-on-year to $135.2m in the year ended March 2021, up from $80.2m.

Its revenue during the year was stable at $1.03b, compared to $1.08b from the previous year.

The company linked this to its efforts to broaden its offline and online product portfolio to attract new customers. It also seized new partnerships to diversify its business during the pandemic.

“Through our persistent efforts to expand our retail product portfolio, plus the ’new normal’ trends born of the COVID-19 outbreak spurring us to offer a variety of products to address the latest customer demands, our core business performance remained stable amid the pandemic,” Cheung King Shek Alex, Chairman and Executive Director of Telecom Digital, said.

The company recommended a fourth interim dividend of $0.08 per share, which brings the total dividend during the year to $0.26 per share.

The Group expanded its mobile brand portfolio as well as developed its Mango Mall e-commerce platform.

The segment accounted for 59.3% of the total revenue after it recorded a growth of approximately $616m from $653.5m in 2019/20. Its distribution segment also saw an increase in revenue, rising 46.3% YoY to $35.5m due to the Group’s cautious approach to product procurement.

Meanwhile, revenue from operations and other telecommunication services operation dropped to $350.3m and $37.1m, respectively.