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SingTel Q3 net profit rises 5.5% on strong contributions from associates

Published on Feb 13, 2014 12:11 PM
 
Singapore Telecom (SingTel) said Thursday its net profit rose 6 per cent year on year in January-December, but a strong local dollar pared down overseas earnings. -- ST FILE PHOTO: NEO XIAOBIN 

SingTel posted a 5.5 per cent rise in third-quarter net profit over a year ago, due to strong contributions from its regional associates.

Earnings would have climbed more if the Singapore dollar had not risen sharply against the home currencies of its associates, SingTel said on Thursday.

The telco's net profit for the three months ended Dec 31 last year was $872 million on revenue of $4.26 billion.

Revenue declined 7 per cent from the quarter a year ago, dragged down by its declining Australian telco business and a "generally cautious business climate".

 
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