Singtel Reports 2% Rise in Revenues

Singapore Telecommunications Limited (SingTel) reported quarterly revenue of S$3.022 billion, a 2.1% rise over the same period last year. Earnings rose 16% to S$696 million, after adjusting for non-recurring items, such as the divestment of Belgacom. Net profit after tax declined to S$700 million.



SingTel's data & Internet revenue, the largest revenue stream, increased 5.8% to S$298 million compared to the same period last year and 6.8% on a sequential quarter basis. Broadband revenues grew 57% to S$70 million as the number of broadband lines increased 40% from a year ago to 268,000. SingTel claims a 40% market share.



Revenue from mobile communications grew 3.1% to S$207 million due mainly to higher ARPU from roaming revenue. SingTel's postpaid churn rate dropped to 1.4% despite a high 87% mobile penetration in Singapore as of June 2004. The use of SMS and other mobile data services such as *SEND and MMS continued to rise. Mobile data services accounted for 18% of ARPU, up from 16% in the last corresponding quarter.



International telephone revenue fell 16% to S$169 million due to lower inpayment revenue and lower collection rates. The volume of international outgoing minutes (ex-Malaysia) was stable compared to the corresponding quarter last year and the preceding quarter.



SingTel Optus Mobile acquired 168,000 customers during the quarter, posting a 17% year-on-year increase in subscribers, bringing its base to 5.7 million or 35% market share. This growth was achieved despite a mobile penetration of 80% in Australia.



OptusNet Broadband had 183,000 customers at the end of the quarter including 22,000 DSL customers. The division added 35,000 broadband customers in the current quarter. This is double the March quarter customer adds and more than three times the December quarter. DSL and dial-up revenue increased by 32%, driven in part by growth in DSL. Off network voice revenue grew by 11%. http://www.singtel.com