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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63565)	5/9/2002 2:35:26 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Singapore Telecom annual net profit falls 18.7 percent Singapore Telecommunications Ltd. (SingTel) said net profit fell 18.7 percent in the year to March due to costs associated with the takeover of Australian carrier Optus. Thursday May 9, 1:12 PM sg.biz.yahoo.com The net profit of 1.63 billion Singapore dollars (906 million US) was down from 2.0 billion dollars the year before but the acquisition of Australia's second ranked telecoms firm in September last year saw operating revenue climb 49.0 percent to 7.34 billion dollars. SingTel blamed the profit decline on higher depreciation, interest charges and goodwill amortisation related to its acquisition of Optus for 13 billion Singapore dollars. Excluding the impact of the goodwill amortisation, SingTel's net profit fell 1.1 percent to 1.98 billion dollars. Chief executive Lee Hsien Yang said Thursday that "given the adverse market conditions last year, we are pleased to be delivering a credible set of results today". The net profit was in the middle range of analysts' forecasts of between 1.50 billion dollars to 1.74 billion dollars.