Singtel posts biggest gain since August on H1 profit rise, upgraded annual outlook
Shares in Singapore Telecommunications (Singtel) gained the most in three months after posting a 10 per cent rise in first-half underlying net profit on Friday, and raising its forecast for annual operating earnings from its core units.Shares rose as much as three per cent in early trade, marking their biggest intraday gain since mid-August and outperforming the broader benchmark, which was down 0.4 per cent.Southeast Asia's largest telecom operator said underlying net profit for the six months ended Sept 30 was $1.49 billion, up from $1.35 billion a year earlier.Bolstered by the stellar first-half showing, Singtel now expects fiscal 2027 earnings before interest and tax for the operating company, excluding contributions from regional associates, to grow in the mid- to high-single digits, up from the previously forecast low- to mid-single-digit growth.Operating revenue from Optus, Australia's second-largest telecommunications provider, which Singtel has owned since 2001, fell two per cent during the half-year, but stronger mobile performance and cost management translated into improved profitability.