KUALA LUMPUR: Maxis Bhd's net profit for the financial year ended Dec 31, 2022 (FY2022) was down 9.7 per cent to RM1.18 billion from RM1.31 billion in the same period for FY2021, due to the effect of Prosperity Tax.

Revenue, however, grew by 4.0 per cent to RM9.79 billion against RM9.24 billion previously, on the back of stable performance across both consumer and enterprise business.

In a filing with Bursa Malaysia, the telecommunications company said the growth in consumer converged revenue was attributed to the well-executed dual-brand strategy, Maxis and Hotlink, driving growth in subscriber numbers for postpaid and home connectivity.

"Enterprise converged revenue is steady, growing 0.5 per cent year-on-year, mainly supported by the growth in core enterprise mobile connectivity, slightly offset by the shift to review fixed and solutions product offering in the fourth quarter (4Q FY2022) to focus on higher margin products," it said.

Maxis also declared an interim dividend of 5.0 sen per share for the quarter payable on March 30, 2023, bringing the full-year dividend to 20 sen per share.

For the 4Q FY2022 ended Dec 31, 2022, Maxis' net profit was down to RM240 million versus RM289 million in the previous corresponding quarter.

Revenue increased by 4.9 per cent to RM2.55 billion compared with RM2.46 billion, mainly driven by growth in consumer business revenue.

In a separate statement, Maxis said the group recorded higher revenue in both mobile and home fibre connectivity.

For home fibre, the company achieved a commendable double-digit growth in revenue and homes connected for 14 consecutive quarters, making Maxis the second largest fibre retailer and strong challenger in the market.

Including its own fibre build, the company now has access to serve approximately 7 million premises, it said.

On 5G, Maxis looks forward to commercially launch 5G-related products and services soon, said the company.

Meanwhile, the company continues to develop multi-industry 5G use cases with major players for commercial use through its growing 5G Alliance.

It has also expanded its 5G international roaming services to more countries and already rolled out a range of 5G devices to its customers.

"We have been agile in adapting to the changing telecoms landscape. Our strengths in mobile, network, converged offerings and expanding fibre footprint put us in a firm position to forge ahead as Malaysia's leading converged solutions provider.

"We have a lot to do this year as we expect an increasingly challenging and competitive environment going forward," said its chief executive officer Goh Seow Eng

At lunch break, Maxis share price was flat at RM4.10 with 113,500 units transacted on Bursa Malaysia.