StarHub boosts revenue target - Mobile World Live

StarHub boosts revenue target

10 NOV 2022

StarHub raised its full-year revenue guidance after double-digit revenue growth in Q3 driven by increases in mobile subscriber numbers and post-paid ARPU.

The operator expects service revenue to grow 12 per cent to 15 per cent compared with a previous 10 per cent target.

Mobile service revenue increased 8.8 per cent year-on-year to SGD143 million ($102 million).

A recovery in travel helped boost subscriber growth, with prepaid numbers up 25.2 per cent to 573,000 and post-paid 6 per cent to 1.5 million.

Post-paid ARPU rose 10.7 per cent to SGD31 due to higher roaming and VAS revenue, with prepaid ARPU down 20 per cent to SGD8.

Net profit dropped 32 per cent to SGD27.4 million, attributed to higher opex and capex.

Revenue rose 14.2 per cent to SGD590.8 million, with broadband increasing 28.2 per cent to SGD63.6 million and enterprise 16.3 per cent to SGD220.9 million.

Due to expected delays, it cut 2022 capex commitment from 12 per cent to 15 per cent of revenue, to 9 per cent to 12 per cent.

The company announced long-serving chairman Terry Clontz will step down at the end of the year, with Olivier Lim, currently an independent director, to replace him on 1 January 2023.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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