A strong performance by its recently acquired Optus unit in Australia has enabled Singapore Telecommunications to post revenue and profit growth for its first quarter of fiscal 2002/2003, despite challenging market conditions.
The combined company posted first-quarter revenues of $S2.46 billion ($A2.6 billion), 2.8 per cent higher than for the fourth quarter of last year. Compared with the year-ago second quarter, SingTel by itself saw revenue fall 3.7 per cent to $S1.2 billion, but Optus revenue rose 11 per cent over the year before to $A1.27 billion.
Combined net profit for its first fiscal quarter, to June 30, reached $S377 million, more than double the $S182 million for the fourth quarter of last year, although profit remained 37 per cent lower than the $S601 million posted by SingTel alone in the year-ago quarter.
Compared with the year-earlier quarter, SingTel saw mobile revenue rise 8.4 per cent and data and Internet services revenue rise 1.9 per cent. Revenue from international telephony continued to tumble, down 18 per cent on the second quarter a year ago.
Optus saw revenue growth of 30 per cent in data and IP (Internet Protocol) services, 22 per cent in consumer services including dialup and cable Internet access and 15 per cent in mobile services, according to the statement.
The company now has almost 25 million mobile subscribers in Singapore, Australia, India, Thailand, Indonesia and the Philippines.