StarHub’s revenue was partly lifted by the consolidation of acquired stakes in enterprise business JOS and the Singapore broadband business of MyRepublic. However, the telco was able to chalk up organic growth too in its other key business segments such as mobile, which is seeing some recovery from roaming, as well as sales of equipment.
Thanks to across-the-board growth, StarHub (SGX:CC3
) was able to increase its revenue for FY2022 by 13.9% y-o-y to $2.3 billion. However, as part of its ongoing multi-year business transformation requiring further spending commitments, the telco’s earnings for the same year ended December 2022 were down 58.3% at $62.2 million versus FY2021.
Dubbed DARE+, the transformation and growth plan kicked off in November 2021, and FY2022 was the first completed full year of this five-year roadmap.
