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SingTel's Q4 profit up 3.5% to $898m but misses estimates

Revenue down 7.9% on weak Aussie dollar and decline in Optus contribution

Published Thu, May 15, 2014 · 10:00 PM
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[SINGAPORE] Singapore Telecommunications' (SingTel) fourth quarter bottom line missed estimates, as regional currencies weakened and revenue from Australia declined.

The group's net profit grew 3.5 per cent to $898 million for the quarter ending March 31, 2014, falling short of the $904 million average of analysts' estimates for net income compiled by Bloomberg.

A much smaller exceptional loss - $21 million against $132 million in the fourth quarter of the previous financial year - had prodded net profit upwards. Nevertheless, underlying net profit took an 8.1 per cent hit, coming in at $920 million.

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