SingTel posts rise in Q1 profit but flags decline in FY earnings

Group flags drop of about 5% in FY earnings after subsidiary Optus takes earnings hit.

Optus parent Singapore Telecommunications (SGT) has flagged a drop of about 5% in full-year earnings and said it will keep Optus' $2-billion plus satellite business, after posting an increase in net profit for the first quarter to June.

Dual-listed SingTel's net profit for the three months to 30 June grew 7% to $S1.01 billion ($876.5 million), from $S905 million in the prior year when analysts were anticipating approximately $928.7 million.

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