M1 net profit after tax increased 2.8% to S$135 million

M1 Logo

SINGAPORE, 19 October 2015 – M1 Limited (M1) today announced the unaudited group financial results for the nine months ended 30 September 2015.

For the nine months ended 30 September 2015, net profit after tax increased 2.8% year-on-year to S$134.9 million, on the back of service revenue of S$613.1 million. Mobile data revenue rose 10.2% percentage points year-on-year to 44.7% of service revenue.

Fixed services revenue grew by 18.9% to S$61.1million for the nine months of 2015 and now accounts for 10.0% of service revenue. The growth was mainly driven by higher contribution from the corporate segment.

In the third quarter, M1 added 12,000 postpaid mobile customers. Total mobile base grew to 1.89 million as at 30 September 2015. Monthly postpaid churn remained stable quarter-on-quarter at 1.0%. M1 also added 6,500 fibre customers during the quarter to bring its base to 120,000.

During the quarter, M1 launched several innovative tariffs and services, such as M1 Data Passport, mySIM mobile plans and nationwide ultra high-speed fibre corporate connectivity of up to 10 Gbps.

“We will continue to innovate and invest to further enhance our value propositions and customer experience,” said Ms Kooi, Chief Executive Officer of M1.

Based on current economic outlook and barring unforeseen circumstances, we estimate low single digit growth in net profit after tax for the year 2015.

Leave a Reply

Your email address will not be published. Required fields are marked *