SINGAPORE: Singapore Telecommunications (SingTel) said its third quarter net profit rose 24 per cent on-year to S$990.7 million.
The increased profit came on the back of higher revenue, with the group making a 20 per cent gain to S$4.45 billion.
SingTel said steady growth from Singapore and Australia, as well as a stronger Australian dollar, helped to boost earnings.
Revenue from Singapore increased 1.5 per cent to S$1.53 billion while
revenue from Australia rose 4.8 per cent to A$2.3 billion. Driving
growth in the two countries is a strong performance in the units'
mobile operations.
The Singapore unit's mobile communications revenue was up by 9 per cent to S$406 million.
But the telco noted that cautious corporate telecom spending
impacted the growth of data and international telephone revenue in
Singapore and Australia.
Also in Singapore, the firm faced increased mobile sales costs as well as higher content cost for its mio TV business.
Last October, SingTel announced that it won the rights to broadcast
the British Premier League via its mio TV platform. While it did not
reveal the amount it paid for the rights, the figure was reportedly
S$400 million.
SingTel added that its other associates have also done well, as the
pre-tax profit from regional mobile associates grew 21 per cent to
S$560 million.
- CNA/sc