SingTel Profit Drops 8.3% on Optus Restructure, Globe Charge
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Singapore Telecommunications Ltd., Southeast Asia’s biggest phone company, said third-quarter profit fell 8.3 percent on charges from its Australian and Philippine businesses and currency moves.
Net income dropped to S$827 million ($669 million) in the three months ended December, Singapore-based SingTel said in a statement today. That missed the S$907 million average of four analyst estimates compiled by Bloomberg and follows accelerated depreciation charges at its Globe business in the Philippines and costs from restructuring its Optus unit in Australia.