TMCnet News
Singapore : SINGAPORE: First Quarter Net Profit of STARHUB grew 3.2% to S$91.2m [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) StarHub, the second-biggest telecommunications company of Singapore, has revealed on Thursday that the company has recorded 3.2% growth in net profits during the first three months of 2013 to S$91.2 million, in the midst of an aggressive scenario, as against the matching period of 2012 figure of S$88.4 million. It has also hinted that cross-carrying the Barclays Premier League (BPL) football matches on its medium possibly will shore up its churn rate. The growth in net profit in January-March quarter is attributable to decline in expenses, to some extent, said the Singaporean telecom giant. The company has said that there was 1.8% drop in operating revenue to S$580.1 million, with 1.7% decline in expenses to S$481.2 million. There was 1% Year-on-Year drop in Pay TV revenue to stand at S$94.7 million, as a result of insufficient proceeds from advertising segment, but the elevated subscription revenue from commercial as well as residential clients had balanced the same to some extent. The average monthly churn rate stood at 1.2% in the reviewed quarter, in comparison with 1.1% in Q1, 2012, because of cut-throat rivalry and end of short-term promotional contracts for customers. Meanwhile, the company s CEO Tan Tong Hai has expressed his optimism on the enhancement of the churn rate after the Media Development Authority (MDA) announced order for SingNet for cross-carrying the BPL matches over the coming three seasons. He added, With the ability to watch it (the BPL) on our box, why would subscribers drop us They would be very happy to keep my box, so that is something that I m hoping for. Our subscribers have been looking out and want to be able to watch the Premier League on our platform. But how this will pan out will depend on the final ruling. The benefit is that the subscriber can watch it on our box instead, said Mr. Tan. StarHub has revealed that it hopes to see low single-digit range growth in group revenue in the current year. The Singaporean telecom giant, in the meantime, has also declared that Chief Finance Officer Kwek Buck Chye will leave the company at the end of September and Singapore Technologies Telemedia s Nicholas Tan will succeed him. (c) 2013 Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |