All of Axiata's operating companies are free cash flow positive already, and all of them are expected only to strengthen next year (2011).
Axiata Group Bhd, a regional mobile operator group, is confident of a continuous revenue growth next year (2011), mainly driven by good growth from all its operating companies (opcos).
It also expects its Bangladesh unit Robi to register the highest growth among its opcos. Its high growth will especially comes from Bangladesh, and the rest, good growth.
As for dividend, the group has enough cash to pay shareholders.
So, bottom line is, they (investors and shareholders) can expect good growth, and hence, capital appreciation, and at the same time, good dividend. It will not be significant dividend, because we are still growing. But, it will be reasonably good dividend.
Axiata, in its recently-announced third quarter financial results, posted revenue growth of 21 per cent to RM11.6 billion for the nine-month ended September 30. Group net profit almost doubled to RM2.14 billion, partly due to disposal of XL shares, its Indonesian mobile unit.
Expecting Robi to be one of the biggest growth drivers for Axiata next year (2011), as the industry as the whole is growing at a fast rate. Bangladesh is growing at the rate of high teens as an industry next yea (2011).
For the nine-month period, Robi's revenue rose by 38 per cent to 19.1 billion taka.
Margins are expected to remain stable in all of its opcos, with the exception of Robi, due to its aggressive growth plans. It needs to invest in opex (operating expenditure) and capex (capital expenditure) for growth in that country (Bangladesh), because the industry is growing and expecting some margin squeeze there over the short-term.
Even though its investment in Idea, a mobile operator in India, is expected to see significant investments next year (2011) due to the expansion of its 3G coverage, The good news is that it sees an improvement in the telecommunications landscape, where the price war has somewhat subsided.
As for its two biggest opcos, Celcom and XL, the two companies should enjoy stable margins next year. However, mobile data will be big in both countries.
Expecting Robi to be one of the biggest growth drivers for Axiata next year (2011), as the industry as the whole is growing at a fast rate. Bangladesh is growing at the rate of high teens as an industry next yea (2011).
For the nine-month period, Robi's revenue rose by 38 per cent to 19.1 billion taka.
Margins are expected to remain stable in all of its opcos, with the exception of Robi, due to its aggressive growth plans. It needs to invest in opex (operating expenditure) and capex (capital expenditure) for growth in that country (Bangladesh), because the industry is growing and expecting some margin squeeze there over the short-term.
Even though its investment in Idea, a mobile operator in India, is expected to see significant investments next year (2011) due to the expansion of its 3G coverage, The good news is that it sees an improvement in the telecommunications landscape, where the price war has somewhat subsided.
As for its two biggest opcos, Celcom and XL, the two companies should enjoy stable margins next year. However, mobile data will be big in both countries.
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