Singapore – Singapore Telecommunications Limited (SingTel) announced its first quarter’s underlying net profit rose 10 percent to S$945 million reflecting strength in the Singapore and Australian businesses, and the return to earnings growth by the major regional mobile associates. The growth was achieved despite the negative currency translation impact. In the first quarter ended 30 June 2009, both Singapore and Australia posted double-digit growth in revenue and improved EBITDA. However, as a result of the weaker Australian dollar against the Singapore dollar, the Group’s revenue rose only 1.9 per cent to S$3.85 billion from S$3.78 billion. The Group’s revenue would have increased 12 per cent if the Australian dollar had been stable from the corresponding quarter last year. Earnings from the Group’s regional mobile associates increased 12 per cent to S$624 million, driven by higher contributions from Indonesia’s Telkomsel which reported improved earnings and mark-to-market gains on foreign currency liabilities. Net profit in the first quarter rose 7.7 per cent to S$945 million from S$878 million a year ago.