Optus nets positive results

Optus nets positive results

16 per cent increase in profit, as telco increases its network speeds in metropolitan Australia and gains mobile customers

Optus has announced positive results for both the fourth quarter and 2009/10 financial year ending March 31, despite the financial crisis.

The telco reported an eight per cent increase in operating revenue to $8.95 billion and grew its net profit by 16 per cent to $676 million.

It claimed to have added 254,000 new mobile customers to its network in Q4 - the strongest performance in five years.

Net additions for the year were 709,000. Mobile service revenue grew by 11 per cent.

The number of 3G subscribers increased to 3.61 million. They included a base of 907,000 wireless broadband subscribers.

“Optus’ strategy to provide innovative, value driven offers as well as exceptional customer experience is clearly reaping results with six consecutive quarters of double-digit mobile service revenue growth, the strongest quarter for new mobile customers additions in five years,” Optus CEO, Paul O’Sullivan, said in a statement.

Within its consumer division, the telco has begun upgrading the Hybrid Fibre Coaxial cable network to speeds of up to 100mbps. As a result, customers in Sydney, Melbourne and Brisbane will have access to faster speeds later this year.

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Tags optus3gPaul O'Sullivan


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