[SatNews] Singapore Telecommunications Limited (SingTel) has announced a 3 percent increase in...
...first quarter net profit to S$945 million. with improved performance from the regional mobile associates and an exceptional gain from the divestment of a non-strategic investment. Excluding the exceptional items, underlying net profit declined 3 percent to S$850 million. The weaker Australian Dollar and regional currencies adversely affected results this quarter.
Ordinary pre-tax earnings from the regional mobile associates grew 2 per cent to S$483 million, lifted by strong earnings growth from Telkomsel and AIS, and would have risen 9 percent if exchange rates were unchanged from a year ago. The Group and its regional mobile associates continued to register strong customer growth in the quarter. As at 30 June 2012, the Group had a total mobile customer base of 462 million, an increase of 46.1 million or 11 per cent from a year ago.
Revenue from Singapore rose 8 percent to S$1.67 billion, with strong contribution from NCS, while Optus’ revenue fell 3 percent to A$2.24 billion due to mobile termination rate cuts, lower equipment sales and service credits associated with device repayment plans. Coupled with the effect of the weaker Australian Dollar, the Group’s revenue fell 2 percent to S$4.53 billion.
Free cash flow declined 21 per ent to S$725 million, mainly from working capital changes and lower cash flow from Optus. Free cash flow from the Singapore business fell 10 percent to S$204 million due mainly to higher receivable balances from OpenNet for the rollout of the fibre network. Free cash flow from Australia declined to A$50 million impacted by tax payments, workforce restructuring costs and higher capital expenditure. Dividends from associates rose 10 percent mainly from Telkomsel. To read the entire financial report, access this direct web page link.