M1 Limited (M1) announces Net profit after tax increased 9.7% to S$176 million; Proposed final dividend of 11.9 cents

Results for year ended 31 December 2014

  • Net profit after tax increased 9.7% to S$176 million
  • Proposed final dividend of 11.9 cents

SINGAPORE, 19 January 2015 – M1 Limited (M1) today announced the unaudited group financial results for the year ended 31 December 2014.

M1

Operating revenue for FY2014 increased 6.8% to S$1,076.3 million on higher handset sales. Service revenue grew 1.4% year-on-year to S$831.1 million, driven by growth in postpaid and fixed customer base, as well as higher revenue from mobile data. Net profit after tax increased 9.7% year-on-year to S$175.8 million.

 

Mobile telecommunications revenue grew 4.2% to S$671.1 million, due to higher postpaid revenue. Mobile data usage continued to grow, with revenue from non-voice services for FY2014 increasing 5.7 percentage points year-on-year to 47.3% of service revenue.

 

As at end 2014, total mobile customers base was 1.85 million. Postpaid customer base increased 19,000 year-on-year to 1.15 million, while prepaid customer base was impacted by the regulatory change. During the year, the fibre customer base grew 18,000 to 103,000.

 

“Faster network and devices will drive data usage in 2015. In December 2014, we launched Singapore’s first next-generation 4G network, enabling download speed of up to 300Mbps. We will continue to invest in our networks to improve customer experience,” said Ms Kooi, Chief Executive Officer of M1.

 

“We are also well-placed to capture growth in the corporate segment through our enhanced offerings, such as our new state-of-the-art data centre and suite of cloud solutions,” added Ms Kooi.

 

Based on current economic outlook and barring unforeseen circumstances, M1 estimates moderate growth in net profit after tax for the year 2015.

 

The Board of Directors has recommended a final dividend of 11.9 cents per share, taking full year payout to a total of 18.9 cents per share.