Third quarter 2012 results (Part 6) – Singtel, StarHub, M1 and others

Companies had started reporting their financial results for the quarter covering 1 July to 30 September 2012 (Third Quarter 2012).

The following table provides information on net profit attributable to shareholders and year-on-year change between current period in 2012 against corresponding period of 2011. It includes information on dividend declared for the quarter by the board of directors.

  Net Profits Y-o-Y Change Dividend
Singtel $ 867.7 m – 1.6% 6.8 cents
StarHub $ 96.2 m + 27.0% 5.0 cents
M1 $ 33.1 m – 19.5%  
CapitaLand $ 148 m + 85.1%  
City Dev $ 134.5 m + 1.8%  
Keppel Land $ 74.4 m + 28.5%  
Comfort Delgro $ 72.8 m + 5.4%  
SBS Transit $ 6.2 m – 40.9%  
SMRT $ 33.3 m – 2.2% 1.5 cents

Note: All companies reported third quarter results except for Singapore Telecom and SMRT (second quarter results).

Singapore Telecom, City Developments, Comfort Delgro and SBS Transit released their results recently. The other listed entities were reported before this blog post and were added here for comparison purposes.

Profit of Singtel declined by 1.6% to $867.7 million due to higher operating costs. StarHub is the only telco that improved its performance for the quarter. Its profit increased 27.0% to $96.2 million. Both Singtel and StarHub were declaring interim dividends of 6.8 cents and 5.0 cents respectively. M1 fared poorly with a drop of profit of 19.5%.

Net profit for all three property developers were in positive territory. CapitaLand’s profit jumped 85.1% to $148 million. Net profit for City Developments increased 1.8% to $134.5 million. Keppel Land continued to do well in this quarter from last quarter. Profit increased 28.5% to $74.4 million. The property market in Singapore held up well due to strong take-up of newly launched residential projects in the third quarter.

Comparing Comfort Delgro with SMRT, Comfort Delgro did better with positive increase in net profit for the current quarter. Its profit increased 5.4% to $72.8 million. The overseas source of income cushioned a poorer operational environment in Singapore. SBS Transit, which is a subsidiary of Comfort Delgro, continued to have negative growth just like first two quarters. SBS Transit’s net profit for third quarter was $6.2 million, a 40.9% decline from the same period last year.

SMRT did not do any better. Its profit declined 2.2% to $33.3 million. Higher staff costs, depreciation costs and maintenance costs weighed down Singapore transport operators. Without any fare increases (as they are controlled) and even with higher ridership, the public bus and rail operations will continue to be challenging.

Copyright © 2012, limkimtong for Living Investment

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

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