SingTel, StarHub post strong Q3 earnings growth

Dylan Bushell-Embling
11 Nov 2009
Daily News

Singapore's two largest operators, SingTel and StarHub, both reported healthy earnings growth during the September quarter, with SingTel lifting its net profit 19%.

Incumbent SingTel recorded an underlying net profit of S$952 million ($685.8 million), from strong gains in its two main businesses.

Revenue from its Singaporean operations increased 8.2% to S$1.44 billion, while its Australian subsidiary Optus generated revenue of S$2.66 billion - a 4% increase, but a 7.4% increase in local currency.

These increases were spurred by strong growth in the mobile operations of both markets. Mobile revenue in Singapore grew 7.9% to S$384 million, with SingTel attracting 30,000 new postpaid subscribers during the quarter.

Optus boosted its mobile revenue 12% to A$1.38 billion ($1.28 billion), adding 223,000 mobile and wireless broadband subscribers.

SingTel's international affiliates contributed to 13.9% of the company's bottom line, up over two percentage points from the year before.

The associates – which include India's Bharti Airtel, Indonesia's Telkomsel and Thailand's AIS - kicked in a combined S$571 million, up 32% from a year ago.

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