MobileOne First Half Profits Flat on Lower Revenues

Singapore's MobileOne (M1) has announced its unaudited group financial results for the six months ended 30 June 2009. Net profit after tax at S$78.9 million (US$54.3 million) remained stable against S$79.1 million (US$54.5 million) for 1H 2008.

Operating revenue at S$376.9 million (US$259.5 million) was 7.9% lower, reflecting the challenging operating environment. However, quarter on quarter, 2Q '09 operating revenue increased by 2.2%. EBITDA margin on service revenue rose to 44.8% for 2Q '09 and 44.7% for 1H '09. Year on year, mobile data revenue grew 8% due to growth in the broadband customer base and higher usage of mobile data services. Revenue from non-voice services now constitutes 25.1% of service revenue.

In the second quarter of 2009, M1's total customer base increased by 50,000 to 1.669 million customers as at 30 June 2009.

Ms Karen Kooi, M1's Chief Executive Officer, said: "While there are tentative signs of improving economic sentiments globally, sustainable recovery is still uncertain and this may continue to constrain consumer spend. We will focus on improving quality of service to our customers and introduce new initiatives to address growth segments. In addition, we will invest for future growth to position ourselves for new opportunities that will emerge."

Posted to the site on 17th July 2009