TELECOM & INTERNET | Staff Reporter, Singapore

StarHub's profit fell 27.1% to $249m in 2017

It was dragged by lower profit from operations.

StarHub Limited reported that its profit attributable to the equity holders of the company decreased by 27.1% YoY to $249m in 2017, from $341.4m in the previous year.

Profit from operations decreased by 21.6% YoY to $333.5m due to lower income grants, as well as higher operating expenses. Operating expenses went up by 3.4% YoY from $974.6m to $2.07b in 2017, which was driven by an increase in cost of sales to $1.04b.

Further, total revenue inched up by 0.2% YoY from $2.39b to $2.4b in 2017, with its enterprise fixed and sales of equipment business units rising by 9.2% YoY and 8.8% YoY to $436.9m and $204m, respectively.

Increases were offset by decline in revenue from mobile (-1.5% YoY to $1.2b), pay TV (-7.6% YoY to $348.9m), broadband (-1.3% YoY to $214m), and service business units (-0.6% YoY to $2.2b).

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