Results for first quarter 2012
Service revenue grows 3.9% to S$192 million
SINGAPORE, 16 April 2012 – M1 Limited (M1) today announced the unaudited group financial results for the three months ended 31 March 2012.

Service revenue grew 3.9% to S$191.7 million, driven by growth in customer base and higher contribution from fixed services. Net profit after tax decreased 5.3% to S$40.3m mainly due to higher acquisition costs which vary from quarter to quarter. Compared to the preceding quarter, net profit after tax increased 7.1%.

Revenue from non-voice services rose by 2.2 percentage points to 36.9% of service revenue, driven by continued growth in smartphone customer base. This now accounts for 69% of total postpaid customer base.

As at 31 March 2012, our total mobile customer base stood at 2.014 million and our fixed customer base grew to 50,000.
“The growth momentum for mobile data and fixed services revenue, seen in the first quarter, is likely to continue for the rest of 2012. With the completion of the rollout of our LTE network and the Next Generation Nationwide Broadband Network in the second half of this year, we are well placed to capitalise on data growth in both the mobile and fixed segments.”
“Based on the current economic outlook and barring any unforeseen circumstances, we are maintaining our guidance of stable performance for 2012”, said Ms Karen Kooi, Chief Executive Officer of M1.