SingTel logos are displayed outside the com centre building in Singapore on May 15, 2014. Singapore Telecom said on May 15 its fourth quarter net profit rose 3.5 percent from the previous year, boosted by strong performances in the home market and its regional mobile associates. AFP PHOTO / ROSLAN RAHMAN
SINGAPORE: Singapore Telecommunications Ltd’s (SingTel) fourth-quarter net profit climbed 4% from a year earlier but came in shy of analysts’ expectations, hurt by unfavourable exchange rates and a lacklustre performance from its group enterprise business.
Earnings at overseas businesses, which now make up 40% of the company’s profits, were hit by a slide in the value of the Australian dollar, rupiah and Indian rupee against the Singapore dollar. Its net profit would have risen 13% in constant currency terms.
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