StarHub profits better-than-expected in Q2: market share stable

Singapore’s second largest mobile operator by subscribers, StarHub, reported better-than-expected net profits of SGD52.7 million for the three months ended 30 June, compared with a loss of SGD10.4 million a year earlier, thanks to double digit revenue growth at its mobile, broadband and cable TV businesses. In the wake of the announcement the cellco reiterated its earlier full-year guidance that it expects operating revenue to grow in the ‘low teens’ compared with a year ago. The company had a 31.5% share of Singapore’s mobile market at the end of June, but has seen its share of the segment stabilise following a period in which it stole market share from rivals MobileOne and SingTel. StarHub remained tight-lipped over the fortunes of its nascent 3G service, however, saying only that it had seen some improvements in the quality of available handsets, but it would not be drawn on subscriber take-up to the new service. The company launched 3G in April this year and had 5,200 subscribers at the end of June.