Operator reports revenue up 11% year on year to S$3.57B and net profit up 10% to S$927M

August 14, 2007

2 Min Read

SINGAPORE -- Singapore Telecommunications Limited (SingTel) today announced its unaudited results for the first quarter ended 30 June 2007.

Group

The SingTel Group began its new financial year on an excellent footing as all three main components of its business – Singapore, Australia and regional associates – performed strongly.

The Group’s operating revenue for the quarter amounted to S$3.57 billion, an impressive 11 per cent increase compared with the corresponding period last year. This was achieved on the back of 10 per cent revenue growth from the Singapore operations – the highest recorded in recent years. The Group’s revenue was also boosted by a stronger Australian dollar.

Optus continued its track record of sustainable growth and profits against a highly competitive market. Operating revenue grew 3.5 per cent while EBITDA remained stable.

Pre-tax contributions from associates rose an impressive 51 per cent, excluding Globe’s extra quarter contribution in the comparative period last year. This extra quarter was incorporated in the June quarter last year to align Globe’s accounting period for the purpose of consolidation. Bharti, Globe and Telkomsel contributed largely to the excellent pre-tax profit earnings.

Net profit grew a strong 10 per cent to S$927 million despite the cessation of amortisation of the compensation income from IDA.

Underlying net profit, excluding IDA compensation, was up a hefty 15 per cent or S$115 million to S$868 million.

Ms Chua Sock Koong, SingTel’s Group CEO, said: “We have made an excellent start to the new financial year with all our key businesses delivering strong earnings growth. I am extremely pleased to note that the growth is broad-based and involves almost every aspect of our business.

“In particular, I am delighted that our Singapore business delivered double-digit increase in revenue, which is unprecedented in recent years. Optus also performed well by maintaining growth and profitability in a highly-competitive environment while our regional mobile associates sustained their stellar growth.

Singapore Telecommunications Ltd. (SingTel) (OTC: SGTJY)

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