Costs rise faster than revenue for M1 in Q3
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Singapore
ACQUISITION and retention costs ate into the third-quarter bottom line at telco M1, despite the boost to operating revenue from higher handset sales and fixed services growth.
Net profit was S$34.5 million for the three months to Sept 30, down by 5.5 per cent on the year before, according to unaudited financial results released on Wednesday. This was in spite of the 10.1 per cent growth in operating revenue to S$274.6 million.
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