SingTel full-year profit grows 4%

Dylan Bushell-Embling
14 May 2015
00:00

SingTel grew its net profit for the financial year ending in March by 4% to S$3.78 billion ($2.86 billion), as a result of strong customer growth and contributions from its regional mobile associates.

Operating revenue increased 2% to S$17.22 billion, but would have grown 5% in constant currency terms.

Improvements in contributions from mobile associates Airtel India, Globe in the Philippines and Telkomsel in Indonesia drove growth for the financial year.

Pre-tax earnings from regional associates increased 18% to S$2.49 billion, and would have expanded 22% in constant currencies.

For the fourth quarter, operating revenue increased 5% to S$4.34 billion while net profit was up 5% to S$939 million.

SingTel and Australian subsidiary Optus gained momentum in their respective consumer markets, helping push total group consumer revenue up 6% year-on-year. Singapore consumer revenue rose 11%, while Australia consumer revenue improved 12%.

Group enterprise revenue meanwhile edged up 1%, while Group Digital Life revenue nearly tripled year-on-year.

The SingTel group ended the March quarter with a combined mobile customer base of 555 million, up 8% year-on-year.

Looking ahead to the full year, SingTel said it expects to report a mid-single-digit growth in consolidated group revenue, with similar gains across its core mobile businesses as well as group ICT revenue.

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