Singapore's MobileOne Posts Flat Profits on Higher Revenues
Published on: 22nd Jan 2013
Note -- this news article is more than a year old.
By: Ian Mansfield
Singapore based MobileOne (M1) has reported that its fourth quarter revenues rose by 3.3% to reach S$327.4 million (USD266.4 million) although the net profit was up by just 0.6% to S$37.9 million (USD30.8 million).
Revenue from non-voice services rose 2.0 percentage points to 37.6% of service revenue, driven by continued growth in smartphone and mobile broadband customer base.
During the quarter, M1 added 50,000 postpaid and prepaid customers, bringing the total mobile customer base to 2.109 million as at 31 December 2012. Monthly postpaid churn for the year remained stable at 1.3%.
The fourth quarter also saw a strong take-up of smartphone plans with tiered data bundles and this trend is likely to continue in 2013. Smartphone customers now accounts for 75% of total postpaid customer base.
Based on current economic outlook and barring unforeseen circumstances, M1 estimates moderate growth in net profit after tax for the year 2013.