Wednesday, May 12, 2010

SingTel Sees Strong Growth

Singapore Telecommunications
reported strong growth across its operating units as net profit for its fourth quarter of FY 2010, ended 31-March-2010, rose 12 percent to S$1.02 billion. The Group's revenue grew 25 per cent to S$4.47 billion. Revenue from Singapore recorded double-digit increase of 13 per cent to S$1.64 billion, with strong performance in Mobile and IT & Engineering. In Australia, revenue rose 6 per cent to A$2.23 billion, reflecting strong results in Mobile.

Looking ahead, SingTel cited global macro-economic trends. As the global economic recovery gathers pace, the economies of Singapore, Australia and the region are expected to improve in 2010. The latest 2010 Gross Domestic
Product (GDP) forecast for Singapore is a growth of 7.0 to 9.0 per cent, following a contraction of 2.0 per cent in 2009. In Australia, the GDP growth is expected to accelerate to around 3.5 per cent for the year ending June 2011, from 2.3 per cent in the prior year. India and Indonesia are expected to register GDP growth of 6 to 8 per cent.