10 Feb '11, 5am

SingTel beats forecasts, dialling in profits of almost $1 billion - TODAYonline

SINGAPORE - Singapore Telecommunications (SingTel), South-east Asia's biggest phone company, reported an unexpected increase in third-quarter profit after boosting sales at home and in Australia. Net income rose 0.8 per cent to $998.2 million in the quarter ended in December, SingTel said in a statement this morning. That beat the $925 million average of four analysts' estimates compiled by Bloomberg. Revenue rose 5.7 per cent to $4.7 billion on growth in Singapore and Australia, the company's biggest markets, which made up for lower contributions from regional operations such as Bharti Airtel in India and Indonesia's PT Telekomunikasi Selular. CEO Chua Sock Koong is counting on smartphones such as Apple's iPhone and investments in startups to revive profit growth as markets saturate worldwide. "Their regional associates are not doing well because competition is keen in co...

Full article: http://www.todayonline.com/Business/EDC110210-0000446/Sin...

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