Earnings per share rose 8.5 per cent to 4.6 Singapore cents, from 4.2 cents in the corresponding period the year before
MAINBOARD-LISTED telco StarHub posted a net profit of S$82.1 million for the half-year ended June, up 7.1 per cent from S$76.7 million in the year-ago period.
Earnings per share rose 8.5 per cent to 4.6 Singapore cents, from 4.2 cents in the corresponding period the year before.
The improvement in earnings comes despite revenue staying largely flat at S$1.1 billion in H1, mainly due to lower contributions from its mobile, broadband and entertainment segments, as well as sales of equipment.
Revenue from these segments fell 4.3 per cent, 1.4 per cent, 3.9 per cent, and 6.4 per cent, respectively.
The total revenue decline was partially mitigated by higher contributions from the telco’s enterprise business, which registered a 7.2 per cent increase to S$425.7 million.
This was mainly due to higher revenues from managed services and cybersecurity services; partially offset by lower revenues from data & internet, voice services and regional ICT services.
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StarHub has declared an interim dividend of 3 cents per share for H1, compared to an interim dividend of 2.5 cents per share in the corresponding year-ago period.
The group said this took into account short to mid-term business conditions, cash flow and investment requirements, and results expected from its ongoing business transformation initiatives.
As at end-June, StarHub’s cash and cash equivalents stood at S$564.6 million, with free cash flow of S$101.6 million.
Shares of StarHub rose 0.8 per cent or S$0.01 to S$1.29 on Wednesday (Aug 14), before the announcement.
