M1 boosts nine-month profit 10.2%

Dylan Bushell-Embling
telecomasia.net
Singapore's M1 has revealed its net profit for the first nine months of 2013 grew 10.2% to S$119.7 million ($96.2 million), on the back of mobile data gains.
 
Service revenue for the period increased 6.1% for the nine-month period, but Q3 revenue was down 5.1% year-on-year.
 
M1 said the majority of its customers are now using smartphones, and as a result data usage continued to grow in Q3. Non-voice services' contribution to total revenue increased to 42.3%, from 38% a year earlier.
 
But mobile data ARPU fell 9.8% for the nine months to September, and 11.7% year-on-year for the third quarter. Total postpaid and prepaid mobile ARPU also declined in Q3, in line with Ovum estimates that ARPU figures are falling across APAC.
 
M1 has added 73,000 mobile customers since last year, taking its total mobile subscriber base to 2.13 million as of the end of September. The company's fiber customer base grew by 33,000 to 77,000 over the same period.
 
The company estimates its mobile market share was 25.6% as of July, down from 26.1% in 3Q12.
 
Based on its results so far and the current economic outlook, M1 revealed it is projecting “moderate growth” in net profit for 2013.
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