M1's Q4 net profit down 27.1% to S$31.8m

Singapore

WITH traditional telecommunication services being disrupted by OTT (over-the-top) services, M1 on Tuesday reported a 27.1 per cent drop in fourth-quarter net profit to S$31.8 million, from S$43.6 million one year ago, for the period ending Dec 31, 2016.

The fall in net profit came despite a 1.9 per cent growth in revenue to S$313.9 million, from S$307.9 million.

Full-year net profit to Dec 31, 2016, was down 16.1 per cent to S$149.7 million, from S$178.5 million a year ago.

Revenue was down 8.3 per cent to S$1.06 billion from S$1.16 billion previously.

The company's board …