Business Today

Archive for December, 2009

Singapore Telecom (SingTel) said Thursday it recorded a net profit rise in the fourth quarter to March from a year earlier, amid growing the company’s performance both regionally and domestically.

SingTel, which has a corporate footprint in the market across Asia Pacific, said that its net profit in the three months to March to reach Sin $ 1.02 billion (U.S. $ 740 million), exceeding market expectations.

Fourth quarter revenues reach Sin $ 4.47 billion, up 25.4% over the previous year. SingTel’s full year revenues of Sin $ 16.87 billion, an increase of 13%, the company said in a statement.

“Fourth quarter, including a success for us, despite the global financial crisis,” said SingTel chief executive Chua Sock Koong Group.

Full year revenues in the domestic market increased by 8% to Sin $ 6 billion, the company said.

Overall, SingTel which has branches Australia Optus, net profits for the financial year grew 16% to 676 million Australian dollar position (U.S. $ 605 million).

“Optus sends free cash flow strongest in five years, with the free cash flow of a full year `exceeds one billion dollars Australia,” said SingTel again.

Profit before tax for a year from SingTel’s regional companies rose 19%, with greater contributions from Telkomsel of Indonesia.

SingTel has grown beyond the small domestic market by having strategic stakes in the companies’ mobile phone `in Bangladesh, India, Indonesia, Pakistan, Philippines and Thailand.

The company Wednesday said that its customer base throughout the region experienced an annual increase of 17% to be 293 million until the end of March.