Amaysim Profits Hit $6.5m As Optus Acquires Mobile Business
Virtual mobile carrier Amaysim, which was acquired by Optus for $250 million in late 2020, announced its earnings results which saw after tax profits climb by 65 per cent before operations were discontinued.
For the half-year until December 31 2020, Amaysim raked in $6.524 million in total net profits, a 65 per cent increase from the previous year’s $3.958 million.
Revenue from ordinary activities fell by 7 per cent to $227 million.
During the six-month period, Amaysim provided mobile plans to a subscriber base of over 1.2 million.
In 2020, the company also sold off its energy business AGL for $115 million, with the transaction completed by September 30. Amaysim became a pure-play mobile business after this sale.
No dividends were paid for the half-year period.
Optus completed its acquisition of Amaysim’s mobile business in February 2021. Amaysim, which is Australia’s fourth largest mobile provider, remains a standalone brand under Optus’ ownership.