KUALA LUMPUR: Singapore Telecommunications Ltd (SingTel) announced its second quarter earnings fell 7% to S$892 million from S$956 million a year ago following the inclusion of the first full quarter of losses from the newly-acquired Africa operations by Bharti (Bharti Africa).
It said on Thursday, Nov 11 net profit was affected by the related financing cost, higher depreciation and net finance cost. Excluding the impact of Bharti Africa, net profit would have fallen 3%.
Group revenue rose 8% to S$4.44 billion in the second quarter, led by robust revenue growth in Singapore and Australia. The stronger Australian dollar also helped lift revenue.
Revenue from Singapore grew 10% to S$1.59 billion and from Australia rose 5% to A$2.32 billion.
The Australia business grew EBITDA strongly at 9%. Implementation of key strategic initiatives to grow its ICT and new multimedia services, however, resulted in the Singapore business recording lower EBITDA.
It said on Thursday, Nov 11 net profit was affected by the related financing cost, higher depreciation and net finance cost. Excluding the impact of Bharti Africa, net profit would have fallen 3%.
Group revenue rose 8% to S$4.44 billion in the second quarter, led by robust revenue growth in Singapore and Australia. The stronger Australian dollar also helped lift revenue.
Revenue from Singapore grew 10% to S$1.59 billion and from Australia rose 5% to A$2.32 billion.
The Australia business grew EBITDA strongly at 9%. Implementation of key strategic initiatives to grow its ICT and new multimedia services, however, resulted in the Singapore business recording lower EBITDA.
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