M1 nine months profit up 5.7% to S$126.4mn

The company has 41,000 additional customers in the third quarter, bringing its total customer base to 2mn by September.

M1 Limited (M1) Monday announced the unaudited group financial results for the nine months ended 30 September 2011. Net profit after tax increased 5.7% to S$126.4 million.

Operating revenue at S$747.8 million increased 4.2% year-on-year due to higher service revenue and handset sales. Service revenue benefited from the growth in mobile customer base and revenue growth from fixed services, according to an M1 report.

Non-voice services contributed 35.4% of service revenue, up from 31.5% a year ago, driven by growth in mobile broadband and smartphone customer base.

M1 added 41,000 customers in the third quarter, bringing its total customer base to 2.009 million as at 30 September 2011. Monthly postpaid churn remained relatively stable at 1.3% in the latest quarter.

Ms Karen Kooi, M1’s Chief Executive Officer said: “We deployed our own active network for the Next Generation Nationwide Broadband Network during the quarter. This will improve our service level and competitiveness, as well as enhance our ability to offer customised solutions.” 

“Based on the current outlook and barring any unforeseen circumstances, net profit after tax for 2011 is likely to improve, compared to 2010,” added Ms Kooi.