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SingTel Group Q4 profit tumbles on Warid Pakistan sale
2013-05-15 02:11:00| Telecompaper Headlines
(Telecompaper) Net profit for SingTel Group fell 33 percent to SGD 868 million in the fourth quarter ended 31 March, due to a one-time loss of SGD 225 million from the divestment of Warid Pakistan. In the same period a year ago, the group recorded an exceptional tax credit of SGD 270 million and net profit totalled SGD 1.29 billion. Excluding exceptional items, underlying net profit declined 2 percent to SGD 1 billion due to foreign currency movements and investments in network, spectrum, and digital initiatives. Revenues were down 6 percent to SGD 4.48 billion but EBITDA was stable at SGD 1.43 billion, reflecting strong cost management. The revenue decline was due to lower revenues in Australia. The regional mobile associates posted a 1 percent increase in pre-tax ordinary earnings to SGD 514 million, led by strong performances by Telkomsel and AIS. The group ended March with 468 million customers (excluding Warid), up 9 percent. This year, SingTel expects group revenues to be stable while EBITDA is forecast to grow by low single digit levels. Capex will go up to SGD 2.5 billion, to support the expansion of LTE coverage and 3G network enhancements.
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Category:Telecommunications
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