StarHub Q2 service revenue slumps 15%, cuts dividend to 2.5 S cents, Companies & Markets

StarHub Q2 service revenue slumps 15%, cuts dividend to 2.5 S cents, Companies & Markets

Fri, Aug 07, 2020 - 8:45 AM STARHUB'S net profit fell 5.6 per cent to S$37.3 million for the second quarter ended June 30, 2020, from S$39.5 mil

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Fri, Aug 07, 2020 – 8:45 AM

STARHUB’S net profit fell 5.6 per cent to S$37.3 million for the second quarter ended June 30, 2020, from S$39.5 million in the year-ago period.

This came as most of the group’s retail stores were closed during Singapore’s “circuit-breaker” period during the quarter, while its roaming, IDD and prepaid mobile revenues also took a hit from the steep decline in travel as a result of strict border controls instituted in late-March.

The telco said on Friday that Q2 2020 was the first full financial quarter affected by the novel coronavirus pandemic.

Total revenue sank 18 per cent to S$453.4 million for the three months, from S$552.8 million in the corresponding period last year.

Service revenue slumped 15 per cent to S$376.2 million. The telco said its revenues were dragged by lower contributions from mobile, pay TV, broadband and equipment sales.

Mobile service revenues shrank by 25.4 per cent. Postpaid mobile revenues fell due to lower IDD, excess data usage, lower roaming due to a significant drop in global travel caused by the Covid-19…



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