StarHub lifts 1H15 revenue by 5%

07 Aug 2015

Singapore's StarHub grew its revenue for the first half of the year by 5% to S$1.2 billion ($886.1 million), but profit fell 3% to S$173 million.

The operator’s total mobile revenue stayed flat at $616 million, with an increase in post-paid revenue offset by a lower contribution from prepaid services.

StarHub's postpaid customer base grew by 70,000 year-on-year, and post-paid ARPU increased by S$2 to S$69. Prepaid ARPU also grew by $2 to S$18.

Pay TV revenue grew 1% TO S$194 million, with pay TV customers increasing by 10,000 to 545,000 households.

Broadband revenue by contrast contracted 7% to S$97 million, in a result StarHub attributed to increased price competition. The company added 19,000 new residential broadband customers, taking the total to 475,000.

Fixed network revenue increased 3% to S$188 million, despite declines in voice services revenue. Data and internet services now account for 86% of StarHub's total fixed network revenue.

For the second quarter, total revenue grew 2% to S$589 million, with service revenue up 1% to S$554 million, and net profit was 5% higher at S$99 million.

"We are delighted with our performance in the second quarter. We are especially heartened to see the residential broadband revenue increasing for two sequential quarters,” StarHub CEO Tan Tong Hai commented.

“This quarter, we registered customer growth in all lines of business and low churn rates, a testimony to our hubbing strategy and quality service experience. We will continue to deliver value to our stakeholders.”

Based on the current economic climate StarHub is projecting a low single digit increase in service revenue for the full year. The company expects its total capex spend to take up around 13% of total revenue.

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