M1 predicts weaker 4Q results

Singapore’s second largest wireless operator MobileOne (M1) has warned that its profit margin could fall in the fourth quarter due to higher investment in 3G technology. In the third quarter – ended 30 September 2004 – M1 reported a net profit of SGD37.2 million, up 3.6% year-on-year, and a revenue of SGD187.5 million (SGD177.3 million). At the end of the quarter the company claimed 1.1 million customers, giving it a market share of 30.6%.