StarHub's second-quarter net profit up 34% year-on-year

5 Aug 2011

Singaporean fixed and mobile operator StarHub booked net profits of SGD78 million (USD64.6 million) in the three months ended 30 June 2011, up 34% year-on-year, although operating revenue was broadly unchanged at SGD569 million. However, this was despite the absence of the 2010 FIFA World Cup event and the price reduction of the operator’s ‘Sports group package’ from SGD25 to SGD12 in June 2010. 1H11 operating revenue reached SGD1.127 billion, it said. Quarterly EBIDTA stood at SGD164 million in the April-June period, up 16% y-o-y, and climbed 25% to SGD323 million for 1H11. Second-quarter EBITDA margin increased 4.4 percentage points to 30.4%; on a half-year basis it was 30.2%. Second-quarter CAPEX of SGD42 million was SGD3 million lower compared to the corresponding period of 2010; first-half 2011 CAPEX fell 10% y-o-y to SGD84 million.

On an operational basis, StarHub closed out June 2011 with a total of 2.153 million mobile subscribers, up from 2.056 million a year earlier; post-paid users accounted for 1.051 million, compared with 994,000 a year earlier. The telco said 2Q11 mobile revenue grew to SGD302.5 million from SGD294.0 million in 2Q10 and to SGD598.1 million for 1H11. Post-paid quarterly mobile services revenue rose 4% y-o-y to SGD239.2 million, although pre-paid revenue fell 3% to SGD63.3 million. The group’s broadband unit saw revenues rise 3% y-o-y in 2Q11 to SGD61 million and the residential broadband customer base grew 6% y-o-y to 431,000 at end-June. Second-quarter fixed network revenue increased 2% to SGD83.4 million from a year ago, driven by strong demand for voice services revenue which rose 9% to SGD14.6 million thanks to higher subscription of local voice services and higher inter-connection revenue from international carriers.

Singapore, StarHub