M1 gets 2.5% bounce on back of record results

Singapore

NEWS of M1's record full-year profit and a surprisingly juicy dividend gave the telco's stock a 2.5 per cent bounce in trading on Tuesday. The counter gained nine Singapore cents, finishing at S$3.71.

On Monday, M1 had posted an all-time high profit of S$175.8 million for 2014 - an increase of 9.7 per cent year on year. Fourth-quarter profit also beat analysts' expectations, increasing 9.9 per cent to S$44.5 million.