Tuas swings to full-year profit on strong customer growth
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The news: Singapore-focused telco Tuas has reported a swing to full-year profit as revenue was boosted by an increase of 200,000 customers for its core mobile service.
The numbers: For the year to 31 July 2025, Tuas delivered a full-year profit of SGD6.9 million ($8.1 million), improving on the SGD4.4 million loss posted in the previous corresponding period.
Revenue for the period also lifted by 29% to SGD$151.3 million from the SGD$117.1 million generated in the previous year.
During the period, the number of active mobile services for the group’s core Simba telecommunications network in Singapore increased from about 1,053,000 to 1,254,000 while the number of subscribers for its fibre broadband business lifted from 3,287 to about 25,592 subscribers.
No dividend was paid or declared during the period.
The context: The telco is in the midst of acquiring rival Singapore-based telecommunications business M1, excluding its ICT business, for around SGD1.4 billion. A share purchase agreement was signed with Keppel on 11 August.
What they said: “Our Simba business continued to deliver strong performance throughout FY2025. Consumer demand for our competitively priced mobile plans remained robust, and our fibre broadband offering is gaining encouraging traction in the market,” Tuas executive chair David Teo said.
