StarHub Q3 profit grows 22%
Singapore's StarHub has reported a 22% year-on-year growth in net profit for the third quarter, on the back of continued growth in postpaid mobile and residential broadband revenue.
The operator reported a profit after tax for the quarter of $118.7 million ($83.5 million). Revenue rose 2% year-on-year to S$604.1 million.
Total mobile revenue was flat, although postpaid ARPU grew by S$3 to S$71 as a result of higher take-up of 4G tiered data plans. Prepaid ARPU was stable a S$18.
Broadband revenue meanwhile increased 4% to S$51.1 million, with the company adding 2,100 new subscribers to take the total by the end of the quarter to 477,000. Fixed network revenue also grew 4% year-on-year, with data and internet service revenue growing 6% to S$85 million.
“We are pleased with our overall performance this quarter. Net profits from operations increased by 6.5%, with continued revenue growth in our post-paid mobile, residential broadband and fixed network services,” StarHub CEO Tan Tong Hai commented.
“This is the third consecutive quarter that we have seen growth in our residential broadband revenue.”
For the full year, StarHub expects revenue to be roughly flat, with a predicted ebitda margin of 32% of service revenue and a capex budget of around 13% of total revenue.
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