SINGAPORE May 18 Singapore Telecommunications
Ltd on Thursday reported a 1.8 percent rise in
fourth-quarter net profit, helped by growth in broadband, mobile
data and services such as cybersecurity.
Southeast Asia's largest telecom operator posted a net
profit of S$963 million ($692.7 million) for the three months
ended in March, compared with S$946 million a year ago.
Underlying net profit, which excludes one-time items, rose 0.8
The company posted a 2.9 percent rise in its underlying
annual net profit of S$3.92 billion, almost in line with
analysts' average estimate of S$3.91 billion.
Consolidated revenue was expected to grow by mid-single
digits and EBITDA by low single digits for the full year ending
The results were affected by a lower contribution from
regional associate Bharti Airtel, which has been hit
with intense competition in its home market of India.
Preparations for an initial public offering of its broadband
subsidiary, NetLink Trust, this financial year were making "good
progress", Singtel said.
Singtel in February confirmed the appointment of DBS Group
Holdings Ltd, Morgan Stanley and UBS Group AG
to handle the planned IPO.
The IPO was expected to raise up to $2.5 billion, IFR, a
Thomson Reuters publication, reported in November, citing people
close to the deal.
In its Group Digital Life unit, which includes services such
as data analytics, Singtel said its digital marketing business
Amobee Group was targeting break-even in EBITDA.
Among its regional associates, Indonesian firm PT
Telkomsel's pre-tax profit contribution rose 17 percent for the
fourth quarter. Bharti Airtel's pre-tax profit contribution
($1 = 1.3902 Singapore dollars)
(Reporting by Aradhana Aravindan; Editing by Randy Fabi and