SINGAPORE: StarHub, Singapore’s second-biggest telco, registered a 17 per cent year-on-year jump in net profit to S$201 million for the first six months of 2016, according to its latest earnings report released on Wednesday.
For the second quarter which ended on Jun 30, 2016, its net profit rose to S$108.6 million up 10 per cent from S$99.1 million one year ago.
The telco also reported half-yearly earnings before interest, tax, depreciation, and amortisation (EBITDA) of S$375 million, an increase of 5 per cent from last year’s S$357 million. However, for the quarter to June 30, EBITDA was lower by 1 per cent year-on-year at S$192 million.
Meanwhile, total revenue for the half-year was 3 per cent lower at S$1.177 million due to lower revenue from sale of equipment. On a quarter basis, total revenue was 1 per cent lower at S$586 million compared to the same period a year ago.
For the half-year period, StarHub achieved customer growth for both pre and post-paid mobile and also grew revenue for its Broadband and Enterprise Fixed services. According to the earnings report, mobile continued to be the major contributor, accounting for 51 per cent of the telco’s total revenue mix for the half year. Meanwhile, Enterprise Fixed services have now over taken Pay TV as the second largest contributor at 17 per cent. Pay TV, Broadband, and Sales of Equipment contributed 16 per cent, 9 per cent and 7 per cent respectively.
“We are pleased to note that our residential Broadband revenue has continued to grow for six consecutive quarters. We are also heartened to see continued growth in our total Mobile customer base, contributed not only by the sustained increase in our post-paid Mobile base but also by our pre-paid base,” said StarHub CEO Tan Tong Hai. “Our Enterprise Fixed services are now the second largest revenue contributor, in line with our strategy to accelerate our growth in the Enterprise segment.”
Shares of Starhub ended down 1.52 per cent at S$3.88 ahead of the earnings release on Wednesday.
