MobileOne reports steady growth

20 Jul 2004

MobileOne saw its second quarter profits beat analyst expectations and rise 26.4% year-on-year to SGD39.7 million (USD23.4 million) as consumer demand continued to rise; last year the SARS crisis had a stifling effect on consumer spending. The company said that it will pay an interim dividend of SGD0.049, up from SGD0.039 in 1H 2003. Operating revenue was up 4% to SGD185 million as the operator saw its customer base grow 6.1% over the year to total 1.12 million. MobileOne said it expects full-year earnings to show single digit growth, warning that the costs of 3G rollout and lower margins on handset sales will keep the figures in check.

Singapore, M1