♦ 2Q10 performance likely to remain strong. We believe Axiata’s 2Q10 results (due out on 25 Aug 10) are likely to come in stronger on a yoy
basis, underpinned by: (1) The strong performances at XL and Dialog; and (2) Low base effect. Recall Axiata’s overall 2Q09 performance was dragged
down by the still-weak performance from its regional cellcos, in particular, Dialog (which was still a loss-making entity in 2Q09) and XL (which had just
returned to the black in 2Q09).
Axiata Group Berhad : Strong Performance To Sustain Into 2Q10 - 18/08/2010
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