Starhub profit projected to increase by 5.1%

Starhub’s net profit is projected to increase to S$216.5m in FY2010E following the announcement of plans for NGNBN, said Phillip Securities Research.

In a media conference StarHub has highlighted its home and business solutions for the Next Generation National Broadband Network. According to Phillip Securities Research, Starhub has become the first telecommunications company to provide more details of its price plans for NGNBN, which are named as MaxInfinity. In addition, Starhub has four access plans that are priced from S$68.27 to S$395.90.

“We have raised StarHub’s broadband revenue estimates by 5.6%, 33.2% and 42.5% to S$281.5m, S$370.8m and S$414.1m in FY2010E, FY2011E and FY2012E respectively. This is because we expect StarHub to register a net gain of 60,000, 30,000 and 20,000 broadband subscribers in FY2010E, FY2011E and FY2012E respectively,” said Phillip Securities Research.