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M1 Q2 revenue down on lower handset sales

M1 on Friday posted a net profit of S$41 million for the three months ended June 30 (Q2 2016). This marked a 7.5 per cent year-on-year fall from last year's S$44.3 million.

Total revenue in Q2 slipped 13.2 per cent to S$240.4 million - down from S$276. 8 million a year ago - primarily on lower handset sales.

Handset sales decreased 49.9 per cent year-on-year to S$36.4 million due to lower sales volume.

Earnings per share fell 6.9 per cent from 4.7 Singapore cents last year to 4.4 Singapore cents in Q2.

The telco is proposing a dividend of seven Singapore cents for the current financial period, payable on Aug 4.