Singtel reports 24% lower 3Q earnings of S$627m, braces for lower equipment sales, sales of lower margin devices in 4Q

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SINGAPORE (Feb 13): Singtel booked earnings of S$627.2 million for 3QFY2019 ended December, some 24% lower than the S$822.8 million a year ago.

This was attributable primarily to weakness in the group’s enterprise business which reported declines of 4% and 11% in its revenue and EBITDA figures respectively, the impact of the final settlement of a gain on the group's Airtel Africa pre-IPO investment, as well as lower exceptional gains.

Excluding exceptional items, Singtel noted that its underlying net profit would have declined by 19%.

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