Singtel forecasts a net loss in 2H FY2024 due to $2.28B non-cash impairment provisions, lowering full-year net profit with $2B from Optus'
Singapore Telecommunications (Singtel) forecasts a net loss for the second half of FY2024, flagging exceptional non-cash impairment provisions of $2.28 billion due to weaker prospects, increased cost of capital, and a bleak macroeconomic outlook. The company also anticipates a lower net profit for the full-year ending March 31, 2024, with $2 billion of the impairment provision coming from Optus' goodwill. An "impending deal" for Optus has been ruled out by Singtel.
April 28, 2024
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