CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Singtel’s Q3 profit down 14.2%

Net profit fell from S$959.2 million a year ago to S$822.8 million for the third quarter.

An intense competition in the India market, lower contributions from associates, a marginal erosion in traditional carriage services and lower national broadband network (NBN) migration revenue in Australia led to a 14.2% profit decline for telecommunications firm Singtel for the fiscal third quarter.

Net profit fell from S$959.2 million a year ago to S$822.8 million for the third quarter. Earnings per share for the period fell to 5.04 Singapore cents from 5.88 Singapore cents in the preceding year.

Operating revenue rose 0.9% from a year ago to S$4.6 billion, lifted by growth in the information and communications technology (ICT), digital services, and higher equipment sales.

Commenting on the results, Ms Chua Sock Koong, chief executive of Singtel Group said: 'We have stayed the course despite heightened competition and challenging market and economic conditions. We’ve continued to add postpaid mobile customers across our core business in both Singapore and Australia while making positive strides in the ICT and digital space.'

The group remains focused on investing in networks and building on its digital capabilities, which are areas that are important to Singtel’s customers and the group’s future success, Ms Chua said. The group will also put in effort on managing costs, growing revenues and driving efficiencies, she added.

Giving an outlook for the current financial year, the telco expects operating revenue from its core business – group consumer and group enterprise businesses – to grow by a low single digit. Earnings before interest, tax, depreciation and amortisation or EBITDA, is expected to decline by a low single-digit.

Meanwhile, mobile service revenue from Australia is expected to be stable and the same segment revenue from Singapore is predicted to fall a mid-single digit.

Singtel shares were unchanged hours after the earnings results release, at S$3.03.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Updated
Change
-
-
-
-
China 300
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Monday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.