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M1 sees dip in Q4 net profit

M1's fourth quarter net profit sees a decrease, following a drop in revenue from international calls and lower average spending per mobile phone user.

SINGAPORE: Singapore's smallest telco, M1, posted a dip in fourth quarter net profit on Monday (Jan 18), hurt by a drop in revenue from international calls, and as average spending per mobile phone user fell.

M1 earned S$43.6 million for the three months ended December, a drop of 2.1 per cent from the same period a year ago.

Operating revenue fell 11.1 per cent to S$307.9 million, even as the total number of customers rose 5.1 per cent to 2.056 million.

M1 also cut its final dividend for 2015 to 8.3 cents per share, down from the 11.9 cents it paid in 2014.

Looking ahead, M1 said it expects to benefit from Netflix’s entry into Singapore, as rivals will find it harder to lure customers with bundled packages that include pay-TV, it stated.