Singtel H1 net profit falls 55% to S$1.54 billion on lack of divestment gains; underlying profit up 10%
Revenue rises 6% as group raises full-year operating earnings guidance.
Singtel, the telecommunications giant, reported a 55% decline in its net profit to S$1.54 billion for the first half of the year, driven by the absence of S$2.21 billion in exceptional gains from the partial sale of its stake in Airtel and the Intouch-Gulf Energy merger. Despite this, underlying net profit rose 10% to S$1.49 billion, fueled by stronger performances at NCS, Digital InfraCo, and Optus, as well as higher contributions from regional associates Airtel and AIS.
The group's operating revenue grew by 6% to S$7.29 billion, with Singtel raising its full-year operating company earnings before interest and tax (OpCo Ebit) growth guidance to between mid and high single digits.
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