StarHub net profit up 9.6% in Q2

Customers at A StarHub retail outlet.
Customers at A StarHub retail outlet.PHOTO: STARHUB

SINGAPORE - StarHub on Wednesday (Aug 3) posted a net profit of S$108.6 million in the second quarter, up 9.6 per cent from the same period a year ago.

Revenue in the three months ended June 30 fell 0.6 per cent to S$585.7 million, on lower revenue from equipment sales.

But lower cost of sales also brought operating expenses down 1.4 per cent from a year ago to S$467.5 million.

Total service revenue, which excludes equipment sales, was S$553.7 million, down 0.1 per cent from a year ago as higher Broadband and enterprise fixed services revenue was offset by lower takings from the mobile and Pay TV segments.

Second quarter earnings per share was 6.3 cents, up from 5.7 cents in the same period a year ago. Net asset value per share was 12.8 cents as at June 30, up from 10.8 cents as at Dec 31.

The board has proposed an interim dividend of five cents per share, the same as last year. It is to be paid on Aug 26. StarHub said that it intends to maintain the annual cash dividend of 20 Singapore cents per share this year.

Earnings were posted after trading hours. The counter closed down six cents at S$3.88 on Wednesday.