1. A better underlying net profit performance
For FY2024, Singtel saw operating revenue dip by 3.4% year on year to S$14.1 billion, mainly because of a 6% depreciation in the Australian Dollar (AUD) along with slightly weaker operating revenue from Singtel Singapore. Operating profit before associates’ contributions was up 3.7% year on year to S$1.2 billion in line with lower depreciation. Net profit, however, plunged by 64.3% year on year to S$795 million because of net exceptional losses of S$2.5 billion booked in the second half of fiscal 2024 (2H FY2024)....Singtel (SGX: Z74) is the next blue-chip company to announce its fiscal 2024 (FY2024) earnings for the year ending 31 March 2024.
The telco did not disappoint as it unveiled a new growth plan, Singtel28, while upping its total dividend to shareholders.
Although net profit plunged because of exceptional losses, the group’s underlying net profit and return on invested capital continue to head higher.
Here are five important highlights from Singtel’s latest earnings report.