StarHub reports increased profits, revenues in Q1

Singapore’s second largest operator by revenues and subscribers, StarHub, has reported a 28% annual rise in net income to SGD88.4 million (USD70.9 million) for the three months to 31 March 2012, compared to net income of SGD69 million a year ago. Group revenues climbed 5.8% year-on-year to SGD591 million for the period under review, aided by a 5% expansion in pay-TV revenue to SGD96 million. Meanwhile, revenues derived from mobile services rose by 4% y-o-y to SGD307 million, accounting for 52% of the group total, as subscribers climbed 2.5% to 2.2 million. Commenting on the first-quarters results, StarHub CEO Neil Montefiore said: ‘Despite the increased competition, we see an increase in the momentum of our high speed broadband plans on both cable and fibre platforms … However, in the enterprise space, we continue to face provisioning difficulties on the Next Gen NBN.’ Rollout of the city-state’s Next Generation National Broadband Network (NGNBN) is currently estimated at slightly below the government’s 95% coverage target.