SingTel Q4 profit rose 4%, buoyed by Singapore consumer business
Published on May 15, 2014 11:00 AM
Weaker regional currencies hit SingTel's fourth quarter earnings, but the telco still posted a 4 per cent rise in net profit for both the quarter and the full year. SingTel's net profit was $898 million for the quarter ended March 31 (2014), and $3.65 billion for the full year.
Earnings growth was driven by a stronger showing from its Singapore consumer business and stronger contributions from its regional associates, led by Bharti Airtel in India and Africa. But this was offset by lower consumer revenue in Australia and its group enterprise business.
As it had earlier expected, SingTel posted a 7 per cent drop in overall revenue for both the quarter and the year, during which revenue reached $4.1 billion and $16.8 billion, respectively.
Still, SingTel is "on track" to boost its core business and expand into providing Internet services, said Ms Chua Sock Koong, group chief executive officer. "We will leverage our network expansion and increased penetration of 4G devices to drive customer and data revenue growth," said Ms Chua.
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