SingTel's Profit Drops 12% on Currency Swings, IPhone (Update2)

Bloomberg.com 12 Nov 2008, Andrea Tan

Nov. 12 (Bloomberg) -- Singapore Telecommunications Ltd., Southeast Asia's largest telephone company, posted its smallest profit in three years as a stronger currency eroded earnings from overseas units.

Net income fell 12 percent to S$868 million ($577 million), or 5.43 Singapore cents per share, in the second quarter ended Sept. 30, from S$988 million, or 6.18 cents, a year earlier, the company said today. Sales rose 5.3 percent to S$3.89 billion.

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SingTel says Q2 profit falls 12.1 percent - AFP, 12 Nov 08