- 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.
