StarHub net profit drops 23.3% to $44.5m in Q3 | Singapore Business Review - The Latest News, Headlines, Insight, Commentary & Analysis
1 view

StarHub net profit drops 23.3% to $44.5m in Q3

Mobile service revenue fell due to lower postpaid contributions.

StarHub has posted a 23.3% drop in Q3 net profit to $44.5m as revenue fell 14.5% to $489.7m, a statement read.

Mobile service revenue fell 29.4% YoY to $134.1m mainly due to lower postpaid contributions resulting from the loss of roaming, value-added service, and excess data usage revenues, as well as decrease in prepaid average revenue per user (ARPU) and subscribers.

Pay TV business revenue declined 16% YoY to $47.1m as a result of a 7.3% decrease in subscribers relating to the cable-to-fibre migration in FY2019 and prudent cost management by commercial clients that resulted in lower commercial revenue and advertising.

On the other hand, broadband service revenue rose 5.5% YoY to $45.5m due mainly to a marked 8.2% growth in ARPU to $30. The higher ARPU achieved was attributed to a reduction in subscription discounts extended during the quarter.

Similarly, the enterprise business sustained its growth to an 11.4% YoY revenue hike to $162m. The business was lifted mainly by an 18.2% rise in cybersecurity services revenue and $17.6m in revenue contributions from regional ICT services following the completion of the Strateq acquisition in July.

Q3 EBITDA and service EBITDA decreased 16.1% and 14.2%, respectively, to $143m and $131.1m. Q3 service EBITDA margin was 33.7%, 1.4pp lower than a year before.

Get Singapore Business Review - The Latest News, Headlines, Insight, Commentary & Analysis in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

And SG, US affirm American presence in Southeast Asia as “vital.”
This chart from the inaugural Independent Reserve Cryptocurrency Index shows that more than 50% of Singaporeans believe Bitcoin’s value will increase past $50,000 in 2030.
This included one-off partial distribution of divestment gains of S$20m.
This is attributed to the lower rental reliefs to retail tenants at Festival Walk and higher average occupancy from IXINAL Monzen-nakacho Building.
The Tripartite Committee on Workplace Fairness targets to complete its work by H1 2022.
A total of 811 condos were sold in the last quarter, the highest since Q4 2010.
The SMAs are focused on global infrastructure projects.
The company said their income was driven by its latest acquisitions.
The Jobs Support Scheme has been extended to 18 August.
The bank is now allowing small- and medium-sized enterprises to avail the loan digitally.
Inflation for all items meanwhile remained unchanged at 2.4% YoY.
SMEs that qualify for the UOB Start digital pack will be offered six months of free access.
This was supported by grants extended by the government, such as the Jobs Support Scheme.
The group’s profits after tax ballooned by as much as 138.4%.