MobileOne Asia reports largely flat financials

Singapore’s MobileOne Asia (M1) has reported largely flat financials for 2006 compared with the previous year. Revenue was down by less than 1% to SGD773 million (USD486 million) while net income rose 2.5% to SGD165 million. In terms of the fourth quarter, despite suffering a very small drop in customer numbers quarter-on-quarter to 1.246 million, revenue was up 3.5% while net income climbed 7.6%. A similar trend is observed in the operational data, with churn largely unchanged at 1.3%, down from 1.4% recorded one year earlier. However, retention costs and customer acquisition costs both rose relatively steeply to SGD141 and SGD150 respectively.