Singaporean fixed and mobile operator StarHub booked net profit of SGD80.4 million (USD62.7 million) in the October-December 2010 period, up 8.4% year-on-year, driven by higher contributions from its fixed network and mobile units. Fourth-quarter operating revenue rose 1.6% on year to SGD559 million and operating expenses climbed marginally by 0.3% to SGD462.3 million. The telco said its mobile arm was responsible for contributing the bulk of the rise in service revenue. Mobile revenues, which generate more than 50% of group sales, increased 8% in the fourth quarter of 2010, as well as for the full year. Moreover, StarHub noted that post-paid mobile revenue rose 10% for the full year, while pre-paid mobile services revenue grew 2%, helping drive a 4% increase in revenue to SGD2.23 billion for the year ended 31 December 2010. On a less positive note, net profit took a hit due to a higher CAPEX of SGD272 million for the year; full-year net profit dipped 18% to SGD263 million, it said.
For 2011, StarHub is forecasting operating revenue growth in the ‘single digit’ range and expects to maintain a cash dividend payout of SGD0.05 per share per quarter in view of ‘projected profitability and cash flow in 2011.’