10% increase despite flat cable TV performance
HONG KONG — Singapore media and communications group StarHub saw its profits rise by 10% in the first half of the year, despite a flat performance from its dominant cable network operation.
Net profit for the six months to June 30 reached S$151 million ($99.4 million) on turnover also up 10% at $633 million.
Without the World Cup soccer that lifted last year’s numbers cable TV revenue and monthly revenue per subscriber were unchanged at $53.8 million and $32.3 respectively. Total subscriber numbers were up 4% at 490,000, while the number taking digital services climbed 31% to 358,000.
Company said that Broadband Internet provision was its best performer with 16% turnover growth.