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StarHub posted earnings of $372.3 million for FY201S, a marginal increase from the $370.5 million reported in FY2014.
Revenue rose 2.4% to $2.4 billion, with the 34.5% increase in equipment sales to $228.3 million, despite the 0.1% dip in service revenue to $2.2 billion.
Mobile revenue decreased 0.6% to $1.2 billion for the full year to December, on the back of lower prepaid and roaming revenue, and broadband revenue was 0.8% lower at $200.3 million.
Pay TV service revenue grew 0.3% to $391 million, and fixed network service revenue was $6.6 million higher, arising from its data & internet services.
For the full year, revenue from equipment sales surged 34.5% to $228.3 million driven by increased quantities sold and the increased mix of higher end phones.
The group has declared a final dividend of five cents per share for the current financial period.
StarHub expects its service revenue to grow in the low single digits for 2016 with capital expenditure to be about 13% of its total revenue, excluding the $80 million spectrum payment due in 2016. It also intends to maintain its annual cash distribution of 20 cents.
StarHub’s shares closed 3.26% higher at $3.80 on Tuesday.
This article first appeared in The Edge Singapore Market Report.
Didn’t make it to the latest StarHub AGM? Read more to find out what was revealed there: 8 Quick Things I Learned from StarHub’s AGM 2015