Singapore Telecommunications (Z74.SG) is down 1.6% at $3.07 as investors tread carefully ahead of the company’s 3Q earnings announcement Thursday; a 34% growth in group mobile subscriber base in 2010 to 383 million users is not helping the stock as the broad market sentiment remains weak with the STI trading down 1.2%.
SingTel’s earnings are likely to be dragged by lower contribution from associates. A Dow Jones poll of five analysts tips SingTel’s 3Q net profit likely fell 8.7% to $905 million.
“We don’t expect too many surprises in the upcoming result - its FY11F guidance will likely be reaffirmed again, and no announcement is expected on capital management either,” Nomura says.
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