SingTel Q4 profit misses expectations, hit by currency losses
Published on May 15, 2014 7:31 AM
SINGAPORE (REUTERS) - Singapore Telecommunications' fourth-quarter net profit climbed 4 per cent from a year earlier but came in shy of analysts' expectations, hurt by unfavourable exchange rates and a lacklustre performance from its group enterprise business.
South-east Asia's largest telecommunications operator said net profit was $898 million in the January-March quarter, missing an average forecast of $968 million from five analysts polled by Reuters.
It was a modest climb from a weak result in the same period a year earlier, when the company was hit by a one-time loss from the sale of its stake in a Pakistan's Warid.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) were $1.3 billion, down 9.2 per cent from a year earlier.
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