Singapore Stock Market News

SingTel - Lower guidance on 1HFY13 miss

StockFanatic
Publish date: Wed, 14 Nov 2012, 12:51 PM
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1H13 core net profit missed CIMB and consensus estimates by 3% and 10% respectively as Bharti disappointed. SingTel maintains its overall guidance but has lowered Optus's FY13 revenue, citing competition and reduced mobile-termination rates.

DPS was 6.8cts (62% payout of 1HFY13), unchanged yoy. 3QFY13 is likely to be weaker due to higher iPhone-related subsidies. We maintain our Underperform and SOP-based target price pending its conference call later this morning. Likely de-rating catalysts are earnings disappointments and adverse regulatory developments in India.
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