M1 posts S$44.3m earnings for Q2

M1 on Monday announced net profit of S$44.3 million for the second quarter ended June 30, 2015, which was flat compared to the S$43.9 million net profit the telco reported one year ago.

This came on the back of a revenue growth of 15.5 per cent to S$276.8 million, up from S$239.7 million one year ago. During the quarter, earnings per share remained at 4.7 Singapore cents, unchanged from Q2 2014.

For the six months ended June 30, M1's net profit was up 3.8 per cent to S$90 million, on the back of service revenue of S$408.6 million. The telco has declared an interim dividend of seven Singapore cents per share.

Based on current economic outlook and barring unforeseen circumstances, the company estimates moderate growth in net profit after tax for the year.