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StarHub posts 5.5% drop in FY2021 earnings to $149.3 mil; guides for a better FY2022 and FY2023

Samantha Chiew
Samantha Chiew2/11/2022 06:13 PM GMT+08  • 4 min read
StarHub posts 5.5% drop in FY2021 earnings to $149.3 mil; guides for a better FY2022 and FY2023
StarHub posts 5.5% drop in FY2021 earnings to $149.3 mil due to lower JSS, but guides for better FY2022 and FY2023 ahead.
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Local telco group StarHub announced that its latest FY2021 ended December 2021 earnings have come in at $149.3 million, some 5.5% lower y-o-y than $157.9 million in FY2020.

The drop in earnings was mainly due lower lower payouts from the government in the form of the Job Support Scheme (JSS). Excluding the JSS, the group would have recorded earnings growth of 17.0% y-o-y from $126.7 million to $148.3 million.

Revenue for the full year was 0.7% higher y-o-y at $2.04 billion, compared to $2.03 billion last year, mainly due to higher contributions from broadband and enterprise business, partially offset by lower revenues from mobile, entertainment and sales of equipment.

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