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.