SingTel sees overseas Growth
SingTel posted a 19.3% increase in year-on-year net profits for 2QFY2015 (end 30-Sept-2014).
S$629 million of profits before taxes (PBT) was attributed to due growth in Regional Mobile Associates, SingTel's overseas investment in mobile service providers. The Associates' PBT was up 26% from the year earlier period with two investments - Airtel and Globe - accounting for two-thirds of the total.
The Associates consist of Airtel in India and by extension Africa, Globe in the Philippines, AIS in Thailand, and Telkomsel in Indonesia.
On a hopeful note for continued growth, increases in mobile data revenues were noted with Airtel in India and Africa, Telkomsel, AIS in Thailand, and Globe.
Profits before taxes were up at Airtel and Globe, up only 1% in Thailand, and down 2% in Indonesia in Singapore dollar terms. In local currency terms, all of the Associates saw increased PBT.
Source Information:
- SingTel Financial Results Presentation for period ending 30 September 2014 (2QFY2015)
- Mobile World Live article, 13 November 2014
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