StarHub profit up 3 percent, pay-TV subs up 4 percent in first quarter

8 May 2009

Singapore – In the quarter, net profit after tax increased 3 percent to S$82 million on the back of S$531 million revenue. Profit before taxation was 1 percent higher at S$101 million year-on-year (YoY). Free cash flow at S$115 million was 277 percent higher compared to last year's S$31 million. Capital expenditure was 14 percent lower at S$51million compared to the same period last year.
YoY, Fixed Network revenue registered the highest growth for the quarter at 9 percent. This was followed by Pay TV at 5 percent. Mobile and Broadband revenues both registered a decrease of 3 percent each. In terms of total revenue mix, Mobile continued to be the major contributor at 50 percent. Pay TV, Broadband, Fixed Network Services and Sales of Equipment contributed 19, 12, 15 and 4 percent respectively to the revenue mix.
Pay TV revenue expanded 5 percent to S$102 million, in part due to a 2 percent growth in ARPU to S$58. Customer base increased 4 percent to 527,000. Digital customers now constitute 98 percent of the total pay TV customer base.
Broadband revenue slipped 3 percent to S$62 million compared to a year ago. The MaxOnline customer base increased 9 percent, ending the quarter with 383,000. As a result of more customers opting for subscription discounts and signing up for the low end plan, ARPU contracted S$4 to S$55.
Total Hubbing households that subscribed to any two or more StarHub services stands at 54 percent.