Singtel H1 profit up 82.6% to S$2.1 billion on exceptional gain

Net profit for the six months ended Sep 30 stood at S$2.1 billion, compared with a net profit of S$1.2 billion in the same period last year. The results translate to an earnings per share (EPS) of S$0.1294, compared with an EPS of S$0.0709 in the year-ago period.

Operating revenue, however, was down 3.2 per cent year on year to S$7 billion from S$7.3 billion. The group’s results were “adversely impacted” by the strength of the Singapore dollar against the Australian dollar and regional currencies, said Singtel in its results announcement.

In constant currency terms, operating revenue would be 1.5 per cent higher. Singtel attributed the improvement to strong showings from NCS and Digital InfraCo which offset weakness in the group’s Singapore and Australia enterprise business.

The board has approved an interim dividend of S$0.052 per share for the half year period – 77 per cent of the group’s H1 underlying net profit of S$1.1 billion, which was up 12 per cent year on year.

The group also revised its dividend policy to raise the payout range to between 70 per cent and 90 per cent of underlying net profit, from 60 per cent to 80 per cent. The dividend will be paid on Dec 8 after books closure on Nov 21.