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StarHub still in investment mode; expects to reap profits in FY2023

Samantha Chiew
Samantha Chiew2/17/2022 11:22 PM GMT+08  • 8 min read
StarHub still in investment mode; expects to reap profits in FY2023
StarHub is still in investment mode, but they are expected to reap the fruits of their labour in FY2023.
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Local telco StarHub has announced earnings of $149.3 million in its latest FY2021 ended December 2021. This is some 5.5% lower than its earnings of $157.9 million in FY2020.

The drop in earnings was mainly due to lower wage subsidies from the government to help all Singapore-based companies tide over the pandemic. Excluding the Job Support Scheme, as the subsidy is called, StarHub would have recorded earnings growth of 17% from $126.7 million to $148.3 million.

For the full year, revenue was largely unchanged at $2.04 billion, up 0.7% from $2.03 billion recorded in FY2020. While StarHub enjoyed more revenue from its broadband and enterprise business, the topline was offset by lower revenue from mobile, entertainment and sale of equipment.

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