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StarHub's Q2 profit up 5%

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StarHub Ltd on Wednesday announced a 5 per cent increase in net profit to S$99.1 million for the second quarter ended June 30.

STARHUB Ltd on Wednesday announced a 5 per cent increase in net profit to S$99.1 million for the second quarter ended June 30, from S$94.3 million in the same period a year ago. Revenue rose 2.3 per cent to S$589.5 million from S$576.4 million a year ago.

StarHub's service revenue was up 0.5 per cent to S$554.3 million during the quarter while sale of equipment was up 42.6 per cent to S$35.2 million. StarHub's EBITDA (earnings before interest, taxes, depreciation and amortisation) increased 3.8 per cent to S$194.5 million from S$187.4 million a year ago and the EBITDA margin was higher at 35.1 per cent. Earnings per share (EPS) was 5.7 Singapore cents for the period, up 3.6 per cent from 5.5 Singapore cents a year ago. For the second quarter, StarHub has declared an interim dividend of 5 Singapore cents per share, the same as last year.

For the six-month period ended June 30, StarHub registered a net profit of $172.8 million, down 3.2 per cent from S$178.5 million a year ago. The drop in net profit came despite a 5.2 per cent growth in revenue to S$1.21 billion from S$1.15 billion one year ago. EBITDA was 2.2 per cent lower at S$356.6 million from S$364.5 million a year ago. EPS for the period was 10 Singapore cents down from 10.4 Singapore cents one year ago.

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