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SingTel Group posts stable profits on lower revenues
2013-11-14 23:29:00| Telecompaper Headlines
(Telecompaper) In the second quarter ended 30 September SingTel group saw stable net profits of SGD 870 million as earnings growth was negatively impacted by the steep appreciation of the Singapore dollar. In constant currency terms, net profit increased 7 percent. However, revenues fell 9 percent to SGD 4.16 billion from SGD 4.57 billion, due mainly to the weaker Australian dollar, a cautious business environment, and lower mobile revenue from Australia. EBITDA rose 3 percent to SGD 1.30 billion on strong cost management. In constant currency terms, EBITDA rose 9 percent. SingTel also said that its combined mobile customer base stood at 486 million, up 7 percent year-on-year.
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Category:Telecommunications