SingTel Q2 net falls 12 pct on FX, iPhone launch
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[November 11, 2008]

SingTel Q2 net falls 12 pct on FX, iPhone launch

SINGAPORE, Nov 12, 2008 (Reuters via COMTEX) --
Singapore Telecommunications , Southeast
Asia's largest phone company, said on Wednesday quarterly profit fell 12
percent, hit by subsidies for its Apple iPhone launch and a stronger Singapore
dollar versus regional currencies.
Fiscal second-quarter attributable net profit was S$868 million ($577
million) versus S$988 million last year.
State-controlled SingTel -- Singapore's largest listed firm -- made
underlying net profit before goodwill and exceptionals of S$801 million in the
July-September quarter, compared with S$914 million in the year-ago period.
This was below an average underlying net profit forecast of S$810.5
million from four analysts polled by Reuters.
Facing a domestic market of just 4.6 million people where virtually
everyone has a mobile phone, SingTel has spent S$18 billion in recent years
buying stakes in mobile operators in high-growth Asian countries like India and
in the bigger Australian market.
SingTel shares fell 10.2 percent in July-September, outperforming a near
20 percent plunge in the benchmark Straits Times Index over the same period.
(Reporting by Jennifer Tan; Editing by Kim Coghill)


(jennifer.tan@thomsonreuters.com; +65-6403 5660; Reuters Messaging:
jennifer.tan.reuters.com@reuters.net)
* Reuters 3000 Xtra clients can now view daily data on how reported Asian
company earnings compare with analysts' forecasts, as measured by Reuters
Estimates.
Double click on
($1=1.504 Singapore Dollar) Keywords: SINGTEL/RESULTS
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Copyright Thomson Reuters 2008. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including
by framing or similar means, is expressly prohibited without the prior written
consent of Thomson Reuters.
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