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Singtel raises outlook as underlying profit rises 10%
Singapore telecom operator Singtel raised its full-year operating-company EBIT growth guidance to the mid- to high-single-digit range from low- to mid-single digits.
The company reported a 10% rise in underlying net profit to S$1.49 billion (US$1.16 billion) for the half year ended September 30.
Singtel said growth came from NCS, its Singapore-based technology services arm, Digital InfraCo, Optus, and regional associates Airtel and AIS. Group revenue rose 6% to S$7.29 billion (US$5.68 billion).
Reported net profit fell 55% to S$1.54 billion (US$1.2 billion) because the prior-year period included exceptional gains from the partial sale of Singtel’s Airtel stake and the Intouch-Gulf Energy merger.
In August, Singtel and KKR completed the STT GDC acquisition, lifting Singtel’s stake in the data center operator to about 25%. Singtel describes data centers as strategic infrastructure in Southeast Asia.
The company also declared an interim dividend of 9 Singapore cents a share.
🔗 Source: Singtel Group
