Tuas full-year net profit jumps to $28.7M
- Tuas recorded a full-year net profit after tax of S$26 million, up from S$6.9 million last year.
- The company's mobile subscriber base expanded to 1.5 million, driving annual revenue up to S$187.6 million.
- Tuas acknowledged the intermittent use of unauthorised spectrum while setting aside up to $30 million for cybersecurity.
Tuas (ASX:TUA) reported a statutory net profit after tax of S$26 million for the year ended July 31, driven by strong subscriber growth across its mobile and broadband segments.
The underlying financial expansion represented a substantial jump from the preceding year when the telecommunications company generated S$6.9 million in net profit on S$151.3 million in revenue.
"Simba has been co-operating fully with the IMDA investigation," said the company in a statement.
The business noted that regulatory capital and operating costs to meet cybersecurity requirements are expected to reach between $15 million and $30 million, alongside planned capital expenditure of $50 million to $55 million.
The capital layout comes as the company projects ongoing operational investments following the disclosure, leaving the broader operational expansion fully funded through its active subscriber growth.
Following the announcement, the Tuas share price was unchanged at $2.33.
The regulatory scrutiny follows an investigation by Singapore regulator IMDA into subsidiary Simba regarding potential radio frequency band usage outside of authorised licensing conditions.
