Singtel recorded slowing growth with net profit contracting by 2% to SG$954 million, down by SG$16 million from the year before on revenues of SG$4.47 billion for the quarter ending December 31st. Network and spectrum investments plus costs of building core enterprise and digital capabilities combined with currency exposure diluted the group’s results, according to Singtel.
The group's mobile data growth in its homeland remained strong as postpaid customers traded up to higher-tier plans with 26 per cent exceeding their data bundles, while more than half of prepaid customers took up mobile data services. The launch of data-centric, SIM-only plans also saw strong take-up, with new customers making up more than two-thirds of the new sign-ups, according to Singtel. Singtel's Group Digital Life also recorded strong revenue growth driven mainly by Amobee’s social, video and mobile advertising business which acquired marquee clients such as Microsoft, Lexus and Fiat.
Chua Sock Koong, Singtel Group CEO
We focused on giving customers the best mobile data and entertainment experience by offering a mix of flexible data plans and differentiated content. This has seen more mobile customers in Singapore and Australia trade up to higher-tier plans.
