- SingTel (SGX:Z74) will report 3QFY24F results on 23 Feb. See earnings calendar.
3QFY24F: Removal of Trustwave losses, weaker associate profits
- - Read this at SGinvestors.io -
- Share of pre-tax profits from SingTel's associates should have dipped 3% y-o-y due to weaker Telkomsel (reduced stake) and AIS (higher interest expenses) contribution, and strengthening of S$ against associated currencies.
Decent SG growth but pace of Optus recovery could be bumpy
- - Read this at SGinvestors.io -
- growing NCS contribution supported by expansionary efforts and concerted cost optimisation, and
- absence of ~S$110m in Trustwave losses.
- For Optus, while our channel checks indicate that mobile price hikes were conducted by some industry players in Jan-Feb 24, we remain cautious on the pace of mobile segment recovery given potential churn and discounts offered following its network outage in Nov 23.
- Optus underwent a Senate inquiry, with findings set to report at end-Feb 24. Potential imposition of large fines/penalties remains an overhang on investor sentiment, in our view.
Healthy outlook of associates to drive FY25-26F earnings growth
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
Kenneth TAN CGS-CIMB Research | LIM Siew Khee CGS-CIMB Research | https://www.cgs-cimb.com 2024-02-13
Read also CGS-CIMB's most recent report:
2024-02-23 SingTel - Healthy Core Business Hit By Associates' Decline.
Price targets by 6 other brokers at SingTel Target Prices.
Listing of research reports at SingTel Analyst Reports.
Relevant links:
SingTel Share Price History,
SingTel Announcements,
SingTel Dividends & Corporate Actions,
SingTel News Articles
