Public transport operator in S'pore. [FY15 Turnover] Bus (79.2%), rail (20.8%).
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Nov-16, 1H17 operating revenue dropped 4.8% mainly due to the decline in mobile termination rates in Australia from Jan-16. Profit contributions from associates increased mainly from Telkomsel & lower fair value losses at Airtel, with underlying net profit up 3.4%. However, with an exceptional loss primarily from handset subsidy costs & staff restructuring costs compared to an exceptional gain in the corresponding period, net profit declined by 2.8%.
Aug-16, 1Q17 operating revenue slipped 7.1%, impacted by lower equipment sales, the decline in mobile termination rates in Australia & the depreciation of the Australian dollar. Net profit remained stable though, as the lower top line was offset by a drop in customer acquisition & retention costs, as well as lower traffic expenses. Factoring out currency movements, earnings would have risen 2.3%, despite the absence of exceptional gains.