M1: Q3 net income broadly stable at USD24.6m

Singaporean operator MobileOne Asia (M1) said net income for its third quarter ended 30 September 2009 reached SGD34.2 million (USD24.6 million), compared to SGD34.4 million in the same period of 2008, adding it has high expectations for its forthcoming launch of the Apple iPhone device. For the year to date M1 has recorded net profits of SGD113.1 million, down 0.3% year-on-year from SGD113.5 million in 3Q08. The company also reported a 4.2% year-on-year drop in operating revenue to SGD188.4 million for the three months ended September, mainly due to lower service revenue. In a statement the operator said it attracted 49,000 net new subscribers in the last quarter, to reach 1.72 million customers.