SingTel's full-year net profit dropped 64% to S$795m due to a S$3.1bn impairment charge related to Optus' challenges.
Singapore Telecommunications (SingTel) reported a 64% drop in full-year net profit to S$795 million due to a S$3.1 billion ($2.3 billion) impairment charge, mainly related to its Australian mobile network operation unit Optus. Optus faced challenges, including a nationwide outage, data breaches, and declining fixed carriage revenue. Excluding the one-time charge, SingTel's underlying net profit increased 10% to S$2.26 billion, driven by higher contributions from regional associates Airtel and Advanced Info Service. SingTel proposes a final dividend of 9.8 Singapore cents per share.
May 23, 2024
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