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M1’s service revenue grew 6.5% year-on-year in FY2013

Zafar Anjum | July 16, 2013
Net profit after tax increased 6.1% to S$80 million

For the first half of FY2013, M1's service revenue grew 6.5 percent year-on-year to S$406.9 million.

Singapore telco M1 Limited (M1) today announced its unaudited group financial results for the six months ended 30 June 2013 today.

M1 said the 6.5 percent growth was driven by increase in customer base and higher revenue from mobile data.

Net profit after tax increased 6.1 percent year-on-year to S$80.2 million, the telco declared.

For the second quarter, net profit rose 11.2 percent year-on-year to S$39.2 million. Free cash flow for the half year increased 33.2 percent to S$114.0 million.

M1 also revealed that smartphone customers now account for 80 percent of the postpaid customer base. Because of this, data usage on smartphones continued to grow. As a result, revenue from non-voice services rose 3.3 percentage points year-on-year to 40.4 percent of service revenue.

In the second quarter, M1 added 55,000 customers, bringing the total mobile customer base to 2.1 million as at end June 2013, of which 307,000 were 4G customers. M1 also added 7,000 fibre broadband customers in the quarter to bring its base to 67,000.

Based on current economic outlook and barring unforeseen circumstances, M1 said it estimates moderate growth in net profit after tax for the year 2013.


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