StarHub’s net profit rises 8.7% in H1 2024

The increase was due to higher contributions from the service segment.

StarHub reported an 8.7% year-on-year (YoY) increase in net profit of $83.3m in H1 2024, compared to $76.7m a year ago due to higher service revenue boosted by stronger enterprise segment contributions.

Overall revenue for the period grew 1.0% YoY to $1.1b from 1.09b in H1 2023.

Meanwhile, service revenue for the period grew 2.4% YoY to $939.2m from $917.6m in H1 2023, whilst revenue from the enterprise segment rose 10.8% YoY due to higher revenues from managed Services (+33.9% YoY) and cybersecurity services (+29.0% YoY).

In addition, StarHub’s mobile segment reported $289.7m in revenue, while its broadband and entertainment segments posted $122.9m and $109.4m, respectively.

The company declared an interim dividend of $0.030 per share.