StarHub financials tumble on Covid-19 woes - Mobile World Live

StarHub financials tumble on Covid-19 woes

05 MAY 2021

StarHub CEO Nikhil Eapen looked to its standalone 5G network and OTT content offering to drive growth for the Singapore operator after posting weak results in Q1 2021 due to ongoing travel restrictions and headwinds from the global Covid-19 pandemic.

In a statement, Eapen said: “We remained focused on our strategic and transformation objectives”, noting its broadband and pay-TV segments stabilised in the quarter, while competition remained intense in mobile.

He added it is driving differentiation with “rich content and entertainment experiences delivered over our network to bring unique value to customers. This has resulted in growth over the last quarter for our 5G Mobile+ plans and enhanced OTT content offerings.”

Net profit dropped 24 per cent year-on-year to SGD30.5 million ($23 million), with total revenue declining 3.8 per cent to to SGD487.1 million.

Mobile turnover plunged 20.8 per cent to SGD129.6 million. Post-paid ARPU dropped 17.6 per cent to SGD28 due mainly to lower roaming, with package subscribers falling 3.3 per cent to 1.42 million. Prepaid ARPU softened by 9.1 per cent to SGD10 and subs slid 24.1 per cent to 534,000.

Average monthly data usage reached 12.7GB at end-March, up from 10.6GB a year earlier.

Its enterprise business increased revenue 0.9 per cent to SGD152.2 million; broadband sales grew 12.6 per cent to SGD47 million, and pay-TV sales decreased 4 per cent to SGD44.9 million despite ARPU improving 5.3 per cent to SGD40.

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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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