Singtel Q4 Net Profit Increased 4.5% to Reach S$950 million

Singtel Q4 Net Profit Increased 4.5% to Reach S$950 million Image Credit: Singtel

Singtel reported strong fourth quarter results with net profit increasing by 4.5% to S$950 million compared S$898 million during the same period a year ago. The group operator's operating revenue saw a 5% jump to reach S$4.34 billion, on the back of the strong growth in mobile data services. The Group and its regional mobile associates registered robust customer growth with increased smartphone penetration and data usage with 8% increase in the total customer base, totaling 555 million from a year ago. 

The Southeast Asia's largest telecommunications Operator will increase its capital expenditure in the current financial year to around S$3 billion from S$2.4 billion in the previous financial year, it added. The operator will also continue to invest in spectrum and build next generation data networks to capitalize on the potential of mobile data services in the emerging markets.

Although the Singtel Group Digital Life nearly tripled its revenue, it expects to reduce losses which were incurred earlier in this segment from S$216 to around S$150-S$180 million during the current financial year. The segment also announced that it plans to execute a number of strategic moves to gain scale and profitability. This will be led by Amobee in the digital marketing space, while its HOOQ will target consumers with compelling video content in close collaboration with the regional mobile associates. 

Chua Sock Koong, CEO, Singtel
This quarter’s performance underscores the strong execution of our core business. We have taken bold measures in the face of industry challenges. We aspire to be a significant global player in cyber security and our acquisition of Trustwave augments our organic initiatives. In the digital space, we are sharpening our focus in three key areas – digital marketing, regional premium video and advanced analytics.  Our unique telco assets put us in the right place to seize opportunities in today’s digital age as these services become integral in our day-to-day lives.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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