SingTel Medium Term Goal to achieve Double Digit Growth
Singapore Telecommunications Ltd. reiterated that its medium-term goal is to achieve double-digit earnings growth. Southeast Asia’s largest telephone company said it expects revenue from its Optus unit in Australia to grow faster than the market average in a presentation for its annual general meeting.
Optus, the No. 2 mobile services provider in Australia after Telstra Corp. (TLS), controlled a 33% market share as of March 31, down two points from a year ago, underscoring rising competition. It also expects double digit earnings growth from its regional mobile businesses.
SingTel has stakes in Thailand’s Advanced Info Service PCL, India’s Bharti Tele-Ventures Ltd., the Philippines’ Globe Telecom Inc., Indonesia’s PT Telekomunikasi Selular and Pacific Bangladesh Telecom Ltd. For the last financial year ended March 31, SingTel posted a net profit of S$3.27 billion on revenue of S$12.62 billion.
Source : Online Resources