Singapore Telecommunications has announced that its operating revenue for the first quarter ended June 30, 2008 increased 5.9% to SGD3.78 billion from SGD3.57 billion reported in the first quarter of 2007.
For the first quarter of 2008, net profit declined 5.3% to SGD878 million from SGD927 million reported in the comparable period of 2007. The company’s EBITDA declined 2.3% to SGD1.73 billion in the first quarter of 2008 from SGD1.77 billion reported in the first quarter of 2007.
Chua Koong, CEO of Singapore Telecommunications (SingTel), said: Our businesses are growing despite the challenging market conditions. In Singapore, we held our leadership position and in the mobile market we continued to gain market share, even with the implementation of full mobile number portability. Likewise in Australia, we continued to win new customers. As we report in Singapore dollar, the financial results of our regional associates are exposed to fluctuations in foreign exchange rates. In this quarter, the impact was negative.