M1's Q4 profit up; moderate growth expected for 2014

M1 ended last year with a 7.1 per cent increase in fourth-quarter net profit to $40.5 million, boosted by higher service revenue and lower costs.

It now expects a year of "moderate growth" in net profit for 2014. According to M1's CEO Karen Kooi, this means single-digit percentage growth.

For the three months ended Dec 31, 2013, operating revenue shrank 14.9 per cent to $278.6 million, owing to lower handset sales, which fell 46.3 per cent to $71.6 million.