SINGAPORE (Nov 9): Maybank KimEng has maintained its “buy” call on StarHub but trimmed its target price to $4.51 from $5.00.

In 3Q15, StarHub’s net profit rose 6% to $103.7 million from a year ago. This excluded a $15 million non-operating gain from dilution of its MediaHub project from 100% to 30%.
9M15 net profit came in at 73% of FY15 forecast.

Service revenue rose 1%, in line with guidance of low single-digit growth. Mobile and Pay TV was flat, but growth came from Broadband and Fixed Network.

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