M1 rings up S$42.8m profit

Its total customer base is now up to almost 2m.

Operating revenue for the first half of 2011 at S$503 million increased 6.5% year-on-year due to higher service revenue and handset sales. Service revenue benefited from the growth in mobile customer base, as well as fixed services.

Non-voice services contributed to 35.2% of service revenue, up from 30.8% a year ago, driven by growth in the mobile broadband and smartphone customer base.

During the second quarter, M1 added 34,000 customers, bringing its total customer base to 1.968 million as at 30 June 2011. Monthly postpaid churn remained stable at 1.2% in the latest quarter.

M1’s Board of Directors has declared an interim dividend of 6.6 cents per share.