M1 Reports 2.8% Growth in Service Revenue For 1st Nine Months Of 2012

15 October 2012, Singapore – M1 Limited today announced its unaudited group financial results for nine months ending 30 November 2012.

Service revenue grow by 2.8% to S$557.4 million from the growth in its customer base and higher contribution from fixed services.

There was a 14.1% drop in net profit after tax to S$108.6 million because of higher handset subsidies.

Free cash flow increased 46.5% year-on-year to S$169.0 million.

Revenue from non-voice services rose 2.1% points to 38.0% of service revenue accounting for 73% of total postpaid customer base.

M1 added 24,000 customers during the third quarter bringing the total mobile customer base to 2.059 million as at 30 September 2012.

Monthly postpaid churn (attrition) improved to 1.2% a 0.1% point improvement from the preceding quarter.

M1 had 44,000 fibre customers as at 30 September 2012.

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