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Optus sees net profit rise in first half results

Optus sees net profit rise in first half results

But parent company, Singtel blames Aussie dollar for its revenue and EBITDA decrease

Optus has seen its net profit rise eight per cent year-on-year to $426 million and EBITDA grow to $1.35 billion, during its first half-year results.

During the quarter ending September 30, EBITDA increased eight per cent to $706 million, net profit stabilised at $230 million and its mobile service revenue increased three per cent to $1.22 billion.

It added 57,000 postpaid customers to its network along with 314,000 4G customers pushing the figure to 4.13 million 4G Plus customers, which account for 44 per cent of Optus’ total mobile customer base.

Optus now counts 72,000 NBN customers, up 33 per cent on last quarter, and has 1.05 million broadband customers.

“Over the coming quarters, we will continue to take the steps necessary to profitably grow our business with products and services that engage our customers,” Optus CEO, Allen Lew, said.

“In our drive to become a mobile-led multi-media company, we extended our partnership with Netflix, and announced two major multi-year partnerships with Cricket Australia and the Barclays Premier League. In the coming quarters, we will look to further enhance our content suite and leverage these assets to drive further customer growth.”

Parent company, Singtel blamed the steep 13 per cent decline in the Australian dollar for its operating revenue sliding down three per cent to $S4.18 billion. EBITDA also fell three per cent to $S1.29 billion. Net profit was stabilised at $S1.03 billion.

Singtel CEO, Chua Sock Koong, said mobile data growth was a key focus for the telco and the quarter also reflected good progress and new wins in areas such as cyber security, Cloud services and advanced analytics.

“Our investments in 3G and 4G network infrastructure and spectrum, alongside increasing smartphone penetration, are delivering improved experiences for customers,” he said. “While currency weakness has affected our reported numbers, our underlying performance is resilient.”

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