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Optus announces positive Q3 financial results

Also claims an improvement in network coverage

Optus, and parent company SingTel have both announced positive Q3 results, ended 31 December 2010.

In a statement to the ASX, Singtel Group revenue rose six per cent to $S4.70 billion ($AUS3.65 billion), over the same period in the previous year. In Australia alone, revenue rose four per cent to $AUS2.38 billion.

The group’s underlying net profit was down, however – at $S998 million, down two per cent.

Optus itself enjoyed an operating revenue increase of 3.6 per cent. The mobile business, meanwhile, shot ahead with revenue rising seven per cent to $AUS1.56 billion.

In a release to the ASX, Optus CEO, Paul O’Sullivan, said “Notwithstanding intense competition in the Australian mobile market, Optus added 150,000 new postpaid mobile customers this quarter, driven largely by growth in smartphone and wireless broadband customers. This was achieved through differentiated mobile offerings, a continued focus on customer experience, and enhanced network coverage which now reaches 97 per cent of the Australian population for both voice and data.”

Rival telco, Telstra, meanwhile has announced a big profit hit in its own results.