Singtel Raises Annual Earnings Guidance Amid Strong Business Momentum
Singtel increased its fiscal year operating earnings growth guidance to mid to high-single digits following strong performance in data centers and IT services.
Singapore Telecommunications Limited raised its operating earnings growth guidance for the fiscal year ending March to the mid to high-single digits, an increase from its previous forecast of low to mid-single digits. The company attributed the upgrade to strong business momentum across its core sectors.
For the six months ended September 30, the company reported a 55% drop in net profit to 1.54 billion Singapore dollars. This decline resulted primarily from the absence of one-off gains recorded in the previous year, which included the sale of a stake in Bharti Airtel and the merger of Intouch with Gulf Energy.
Despite the drop in net profit, underlying net profit rose 10% to 1.49 billion Singapore dollars. This growth was driven by double-digit increases in the company's data center business, its IT services arm NCS, and its Australian unit Optus. Operating revenue increased 6% to 7.29 billion Singapore dollars. In response to these results, the board approved an increased interim dividend of 9.0 Singapore cents per share.
