Co is focused in the retail & distribution of luxury watches. [FY13 Turnover] Retail (86.1%), wholesale (13.5%), others (0.4%).
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Feb-14, For FY14, Co's revenue is expected to decline by mid-single digit level & EBITDA is projected to decline by low single digit level. EBIT, excluding shr of associates' results, is forecast to decline by mid-single digit level, with higher depreciation & amortisation. Cash capex for S'pore & Australia is projected to be approx $2.2b, with major expenditure on the expansion of Co's LTE coverage & 3G network enhancements. Co will allocate up to $2b for invs to support growth in the digital biz over the next 3 yrs. As at Dec-13, mobile subscriber base in S'pore stood at 3.96m, giving Co a 47% mkt shr, an improvement from 46.6% in Dec-12.
9M14 earnings grew 4.3% despite revenue decline of 7.2% on lower Australia mobile revenue & weaker A$, due to relatively lower handset subsidy costs & lower interconnect costs in Australia. A gain on dilution of interest in Airtel further underpinned performance. (17/02/14-HX)
Ann'd date for 2H13 : 25-JUN-13