M1 1Q12 revenues up 3.9%, but profits dip on SACs

Singaporean full service provider M1 Limited (M1) says that revenues for the January-March 2012 period climbed 3.9% year-on-year to SGD191.7 million (USD153.4 million) on the back of solid subscriber growth and a higher contribution from fixed services, but net income dipped 5.3% to SGD40.3 million due to higher subscriber acquisition costs (SACs). On a more positive note, the carrier noted that net profits increased by 7.1% on a quarter-on-quarter basis.

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OVETEL M1 1Q12 revenues up 3.9%, but profits dip on SACs