Singaporean wireless operator MobileOne (M1) today announced its unaudited financial results for the six months ended 30 June 2006. Net profit rose by 2.1% to SGD81.9 million (USD51.4 million) year-on-year on operating revenues of SGD382.9 million, while the group’s net profit margin improved by 1.1% to 24%. EBITDA rose marginally by 0.6% to SGD164.2 million and the EBITDA margin on service revenue climbed 1.7% to 48.2%.
M1 reported a total of 1.228 million customers as at 30 June 2006. It said that the proportion of pre-paid subscribers dipped by 10% in the second quarter of 2006 as a result of the termination of unregistered pre-paid cards. The number of post-paid customers remained stable. Commenting on the results Neil Montefiore, the chief executive officer of M1, said: ‘We will continue to aggressively drive growth in data usage as a key response to the challenges of operating in a mature market with marginal growth in post-paid customer numbers. Based on the current outlook, M1 expects to achieve single-digit growth in profit after tax for the year.’