Published:
M1’s net profit jumped 9.7% to $175.8m in FY14
On back of higher postpaid revenue.
M1’s full-year net profit climbed 9.7% year-on-year to $175.8m in FY14, thanks to higher postpaid revenues and an increase in its fibre customer base.
M1’s results outpaced analyst forecasts. The group also reported solid results for the fourth quarter, with its net profit up 9.8% on year to $44.5 m and its revenue up 24.3% to $346.4m.
M1’s capex spending in 2015 is expected to be reduced to $120m from $139.6m this year.
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