Strong Aussie $ boosts SingTel
February 8, 2010
Singapore Telecommunications Limited (SGT) said its wholly-owned Australian subsidiary Optus had recorded 4.8% growth in operating revenue for the quarter ended 31 December to $2.3 billion, while operating EBITDA was up 3.6% to $529 million.
In Singapore the company said the group revenue jumped 20% to S$4.45 billion ($3.6 billion), with the increase fuelled by growth from Singapore and Australia, while a stronger Aussie dollar also increased the bottom line.
In the quarter, the Australian dollar appreciated 27% against the Singapore dollar. On a ‘constant currency’ basis revenue growth was a more subdued 3.4%.
In Australia, Optus CEO Paul O’Sullivan said the company had recorded an 11% rise in mobile services revenue, the company’s fifth consecutive quarter of double-digit mobile services revenue growth.
”The record-breaking increase in new mobile postpaid customers reflects confidence in Optus as a leading provider of mobile and wireless broadband solutions,” Mr O’Sullivan said.
In Singapore the company said the group revenue jumped 20% to S$4.45 billion ($3.6 billion), with the increase fuelled by growth from Singapore and Australia, while a stronger Aussie dollar also increased the bottom line.
In the quarter, the Australian dollar appreciated 27% against the Singapore dollar. On a ‘constant currency’ basis revenue growth was a more subdued 3.4%.
In Australia, Optus CEO Paul O’Sullivan said the company had recorded an 11% rise in mobile services revenue, the company’s fifth consecutive quarter of double-digit mobile services revenue growth.
”The record-breaking increase in new mobile postpaid customers reflects confidence in Optus as a leading provider of mobile and wireless broadband solutions,” Mr O’Sullivan said.
Despite the upbeat assessment the company cut 145,000 pre-paid customers to 4.2 million, after tightening its churn policy.
Across the group, which has operations across Asia, India in addition to Australia, underlying net profit grew 18% to S$990 million ($804 million).
SingTel Group CEO, Ms Chua Sock Koong said that across Singapore, Australia and the associates, the company was focused on execution and delivering to exceed customer expectations.
“The Singapore and Australia businesses stood out for their exceptional performance in mobile under highly competitive market conditions.” Ms Chua Sock Koong said.
At 1035 AEDT, SingTel shares were unchanged at $2.37 each.
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