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PCS - Revenue increased in 1Q2018 mainly due to sales of new models of mobile devices such as the, Samsung S9 and S9+. This was partially offset by lower fulfillment revenue.
ICT - Revenue decreased in 1Q2018 mainly due to lower equipment and maintenance revenue. There was also lower wholesale voice revenue which was discontinued in 1Q2017.
Engineering - Revenue decreased in 1Q2018 from all countries except for the Philippines.
PCS - PBT maintained in 1Q2018.The higher PBT from the Malaysian operations was offset by the lower PBT from the Singapore operations. The lower PBT in Singapore was due to the loss of StarHub Logistics Contract, which was not renewed upon its expiry on 30 June 2017.
ICT - Higher losses in 1Q2018 was mainly due to lower revenue. The lower gross profit was partially mitigated by lower operating expenses. There was also a higher share of profit from an associate.
Engineering - PBT increased in 1Q2018 mainly due to higher profit contribution from the Philippines.
Based on the current outlook and barring any unforeseen circumstances, the Group expects operating performance for 2Q2018 to be weaker than 1Q2018. Overall, the Group expects full year operating performance to be lower than that of last year. The Group will continue to explore strategic initiatives to further enhance the business operating performance.
This release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, and governmental and public policy changes. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events.