SINGAPORE, 24 October 2018 - M1 Limited (M1) today announced the unaudited group financial results for the nine months ended 30 September 2018.
For the third quarter of 2018, service revenue increased 1.9% year-on-year to S$190.2 million. This was mainly driven by fixed services revenues, which grew 25.9% year-on-year to S$37.8 million in the quarter. Net profit after tax decreased 5.5% year-on-year to S$34.5 million, partly due to higher acquisition and retention costs.
For the nine months ended 2018, service revenue increased 3.4% year-on-year to S$568.0 million. Fixed services revenue increased 22.5% year-on-year to S$106.4 million and accounted for 18.7% of total service revenue. Net profit after tax decreased 1.4% year-on-year to S$105.5 million.
Fixed services continued to post strong growth across both corporate and residential segments. Fibre customer base grew 4,000 quarter-on-quarter to 204,000 in 3Q2018 and fixed revenue accounted for 19.9% of service revenue in the quarter, compared to 16.1% a year ago.
In the latest quarter, M1 added 24,000 postpaid customers, to bring the postpaid customer base to 1.36 million as at 30 September 2018. Monthly postpaid churn remained stable year-on-year at 1.0%. Contribution from mobile data increased to 64.6% of service revenue, up from 57.3% a year ago. Average postpaid smartphone data usage grew to 5.5GB per month in 3Q2018, from 4.2GB per month a year ago
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