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Optus Mobile Underpins Strong Q1 Profit Growth

Optus Mobile Underpins Strong Q1 Profit GrowthOptus posted net profit of $196 million for the quarter, while operating revenue of $2.295 billion was up 11.3 per cent year-on-year, with mobile service revenue rising 5 per cent to $1.21 B, which Optus stated was boosted by postpaid handset customer growth and take-up of My Plan Plus plans.

EBITDA grew 7 per cent to $641 million, while average revenue per user increased 5 per cent on last year’s corresponding period, fuelled by 4G customer growth and an increase in mobile data consumption.

Optus added 38,000 postpaid handset customers during the quarter, with its total number of mobile subscribers now at 9.38 million.

Optus stated that 4G demand remains strong, with 290,000 new subscribers for the quarter. Optus’ 3.82 million 4G Plus subscribers account for 41 per cent of its total mobile customer base.

Meanwhile, Optus’ operating revenue grew 3 per cent in the mass market fixed category, with Optus having 54,000 NBN broadband customers by the end of the quarter and a total of 1.04 million broadband customers.

“This quarter’s results underscore the strength of Optus’ business fundamentals,” Allen Lew, Optus chief executive officer, commented. “We are well-positioned to capture future growth opportunities by bringing together our competitive advantage in customer experience with our renewed focus on driving innovations that entertain customers and enhance their lives.”

Optus stated its 4G coverage now reaches close to 90 per cent population coverage.

“Since the beginning of 2015, we have switched on 700 MHz spectrum at 2,400 metropolitan and regional sites,” Lew commented.

“Over the coming year, Optus will continue this important investment program so that more Australians can have access to reliable, superfast 4G mobile services, in more places.”