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M1 posts 2.5% drop in 4Q earnings to $31 mil on lower handset sales

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M1 posts 2.5% drop in 4Q earnings to $31 mil on lower handset sales

Samantha Chiew Published on Tue, Jan 23, 2018 / 5:37 PM GMT+8

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SINGAPORE (Jan 23): M1 reported 4Q17 earnings declined by 2.5% to $31.0 million from $31.8 million in 4Q16 on lower handset sales.

The results also bring FY17 earning to $132.5 million, 11.5% less than $149.7 million recorded in the previous year.

Operating revenue for the fourth quarter ended December was 2.1% lower at $307.2 million compared to $313.9 million last year.

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