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Singapore Telecommunications 2Q net profit rises 3.3 percent on regional business

Date: 11/7/2007 3:20:33 PM

Singapore Telecommunications Ltd. said Wednesday its fiscal second quarter net profit rose 3.3 percent from a year ago on contributions from regional mobile associates and operations in Singapore and Australia.

Net profit for the JulySeptember quarter came in at 988 million Singapore dollars (US$684 million €470 million), up from S$956 million in the same quarter last year, SingTel said in a statement.

Operating revenue was at S$3.69 billion (US$2.55 billion €1.74 billion), up 10.9 percent from S$3.33 billion previously.

"The success of our international expansion has created a diversified earnings base," SingTel Group Chief Executive Chua Sock Koong said in the statement. "Our overseas operations now contribute 74 percent of proportionate earnings before interest, tax, depreciation and amortization, up from 71 percent a year ago," Chua said.

In Australia, SingTel said its Optus subsidiary saw revenue rise 3.7 percent in the quarter to 1.93 billion Australian dollars (US$1.8 billion €1.23 billion).

SingTel said posttax profit from regional associates rose 21 percent to S$477 million (US$330 million €225 million) on the back of strong subscriber growth, especially in India.

Underlying net profit, which strips out exceptional items, rose to S$914 million (US$633 million €432 million) from S$815 million a year ago. The company granted a dividend of 5.60 Singapore cents (US$0.039 €0.027) per share for the quarter, up from 3.69 cents a share a year earlier.  Phone Card News Stats


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