M1 net profit down by 11.5% to $132.5m in 2017

This was due to increased depreciation and amortisation expenses.

M1 reported that its net profit after tax decreased by 11.5% YoY, from $149.7m in 2016 to $132.5m in 2017. Its net profit decreased by 2.5% in 4Q2017, from $31m to $31.8m.

Net profit declined because of increased depreciation and amortisation expenses, as well as higher interest expense, M1 said.

Service revenue rose 2.8% YoY to $828.1m, with higher fixed services and postpaid revenues driving the increase in the last quarter of 2017.

Further, M1’s operating revenue inched up by 1% YoY in 2017.

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