MobileOne Reports Flat Profits for First Nine Months

Singapore's MobileOne (M1) has reported a net profit after tax for the nine months ended 30 September 2009 of S$113.1 million(US$81.3 million) remained stable against S$113.5 million for 9-month 2008.

Operating revenue at S$565.3 million (US$406 million) was 6.7% lower year on year due to lower service revenue. However, EBITDA margin on service revenue improved to 43.4% for 3Q '09 and 44.3% for 9-month '09 due to lower operating costs.

Revenue from non-voice services which benefited from the growth in the mobile broadband customer base rose 2.4% points to make up 25.6% of service revenue.

The total customer base grew by 49,000 in the quarter to 1.718 million as at 30 September 2009.

Ms Karen Kooi, Chief Executive Officer of M1, said : "General economic sentiments improved in the third quarter but operating conditions still remain challenging without a firm or sustainable rebound in spending. Near term operating revenue will therefore remain under pressure."

"Looking ahead, we see exciting opportunities in the upcoming launch of the iPhone. We will continue to launch new mobile services and grow our fixed line business to drive top line revenue growth. The fixed line services should also pick up momentum with the commercial launch of the Next Generation National Broadband Network next year."

Posted to the site on 19th October 2009