SYMC continued its excellent 1H/2022 performance with outstanding earnings grew by 64% year-on-year
published : 18 Aug 2022 at 11:26
SYMC revealed its first half of 2022 operating results with another outstanding performance of Total Revenue of 832.1 million and Net Profit of 79.1 million, both increased by 17% and 64% year-on-year.
The excellent growth was fully driven and supported by expansion of telecommunication business especially on continuous data connectivity, accelerated digital enterprises transformation and growing demand on cloud adoption.
Mr. Alex Loh, Chief Operating Officer, Symphony Communication Public Company Limited, or SYMC, a leading telecommunication network provider, said that the overall business of Symphony continues to grow amid economic volatility and also the impact from the situation of the Russia-Ukraine War as well as the ongoing epidemic situation and the rising cost of living due to inflation. The company still maintains its double-digit revenue and earnings growth in the second quarter of this year, as a result of the connectivity service revenue that grew sequentially in both domestic and international markets that began to resume the normal situation and start to show good signs for significantly increasing future demand for data connectivity.
In the second quarter of 2022, the company’s overall revenue increased 16.2% and net profit increased 78.5% compared to the same quarter of the previous year. This reflects the efficient management and continuous growth in business key focus areas which cover various services, such as Connectivity Service for both domestic and international Internet Service, Cloud Service, ICT Solutions and Data Center.
The second half of 2022 will be further fuelled by surging demand for digital technologies execution along with acceleration of cloud adoption by many Enterprises in Thailand. In line with Thailand 4.0 vision to drive the 20 years national master plan for digital transformation, Thailand has attracted many “Hyperscaler Cloud Provider” to expand their infrastructure footprint in this part of the ASEAN region to capture the growing demand for cloud computing services, supported by scalable and reliable network connectivity, both locally and globally within our Symphony’s resilient and diversified infrastructure network.
Mr. Alex added that the Company is confident it can complement the future digitalisation as more customers will move and integrate operations and workloads with cloud capabilities together with connectivity as a high priority to facilitate digitalisation efforts and effective collaboration. Symphony Network ensures that enterprises can benefit from a secure and diverse network to drive seamless digitalisation with optimised connections locally and globally.
Moreover, Symphony will continue striving to enhance its network to be more robust yet scalable whilst exploring other customisable digital solutions, including cloud and cybersecurity solutions with its strategic partner alliances, to supplement the digital resiliency for enterprises regardless of industry and scale.