StarHub net profit up 62.6% to $37m for Q2
The company recorded continued growth in all of its business divisions.
StarHub continues to show signs of expansion as their profit increased to 62.6%, as well as a recorded 7.3% year-on-year (YoY), bringing their total revenue to $486.7m.
Most of this growth can be attributed to Starhub’s rapid expansions with all of its sectors.
StarHub’s CEO Nikhil Eapen cites partnerships that help them achieve specific markets. Examples of these include Disney + and NVIDIA GeforceNOW for their consumers, as well as their foray into cybersecurity services and network solutions for their enterprise customers.
Through their efforts, StarHub also exceeded their DARE transformation goal set last 2018. This resulted in a projected cost savings of $273m, higher than the initial target of $210m.
The company also documented a cash generation of $245.2m from their operating activities and a free cash flow of $128.1m in the first half (H1) of 2021.
Because of all this, the company also announced a dividend of 2.5 cents per share for H1 2021, with a goal of 50 cents per share set for the financial year 2021.