Results for nine months ended 30 September 2004
Continued growth in profit and free cash flow
SINGAPORE, 20 October 2004 - MobileOne Ltd (M1) today announced that its profit after tax for the nine months ended 30 September 2004 grew by 18.3% year on year, from S$104.7 million to S$123.9 million. Service revenue increased 6.0 % to S$508.0 million.
In other highlights of the unaudited group financial results for the reporting period, EBITDA rose to S$226.1 million from S$212.8 million year on year while EBITDA margin on service revenue was 44.5%. Free cash flow registered a strong growth of 25.7% year on year to S$205.4 million.
M1's total mobile customer base reached 1.143 million as at 30 September 2004.
"M1 has performed reasonably well for the first nine months of this year. We expect to see some margin erosion in the last quarter caused by the expected increase in operating expenditure for the 3G network and services and higher level of marketing activities during the festive season. Based on the current outlook, we are maintaining our expectation of single-digit growth in profit after tax for 2004," said Neil Montefiore, Chief Executive Officer of M1.