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StarHub's net profit falls 11.5% in Q3

STARHUB has posted a net profit of S$76.5 million in the third quarter, down 11.5 per cent from the same period a year earlier.

Revenue in the three months ended Sept 30 was S$580.4 million, down 0.8 per cent on lower service revenues from mobile, Pay TV and broadband services, as well as lower sales of equipment.

Total service revenue, which excludes equipment sales, was stable at S$545.4 million. Third-quarter handset sales declined 10.6 per cent to S$35 million on lower quantities sold.

Mobile revenue fell 0.8 per cent to S$297 million, owing to lower voice, IDD and outbound roaming usage, partially mitigated by increased usage of data, coupled with higher revenue from mobile value-added services.

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Earnings per share was 4.3 Singapore cents, down from five Singapore cents in the same quarter last year. Net asset value per share was 22.9 Singapore cents as at Sept 30, up from 11.3 Singapore cents as at Dec 31 last year.

An interim dividend of four Singapore cents per share has been declared, down from five Singapore cents a share in the same period last year. StarHub said that it intends to maintain the dividend of four Singapore cents per quarter per share for the rest of 2017.

The counter fell two Singapore cents or 0.75 per cent to S$2.64 on Thursday before earnings were released.