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Optus Records Strong First Half: Net Profit Up 8.3%

Optus Records Strong First Half: Net Profit Up 8.3%Optus’ net profit came in $426 million for the half year, with operating revenue of $4.61 billion up 9.3 per cent year-on-year.

Mobile was a strong performer for the telco, with mobile revenue of $3.08 billion up 13.3 per cent year-on-year. Optus reported a slight decline in its mobile subscribers, down 0.5 per cent to 9.36 million, however postpaid subscribers of 4.71 million were up 4.5 per cent.

Meanwhile, 4G subscribers soared, totalling 4.13 million for the half year, up 50.4 per cent year-on-year, with 4G customers now accounting for 44 per cent of Optus’ total mobile customer base.

Optus states its 4G Plus network is now available at 4,170 regional and metropolitan sites, reaching more than 90 per cent of the Australian population.

“These first half results reflect the underlying strength of Optus’ operations,” Allen Lew, Optus chief executive officer, commented. “We have successfully captured consumers’ growing demand for data through innovative plans and service, investments in our fixed and mobile networks, and compelling entertainment offers.

“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 has been active in the media content space in recent times, announcing a number of deals.

“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,” Lew commented.

“In the coming quarters, we will look to further enhance our content suite and leverage these assets to drive further customer growth.”