Optus profit up by 16%
Phone carrier Optus reported an annual net profit up by 16 per cent. The Singapore Telecommunications Ltd subsidiary posted $676 million net profit for fiscal 2010.
Operational earnings before interest, tax, depreciation and amortisation (EBITDA) were 4.2 per cent higher at $2.15 billion, with an operational earnings margin of 24.1 per cent.
Optus chief executive officer Paul O'Sullivan said the carrier had added 254,000 new mobile customers in the fourth quarter of fiscal 2010, making 709,000 over the full year.
"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 customer additions in five years," said O'Sullivan.
Optus' postpaid subscribers increased 17 per cent year-on-year and now comprise 49 per cent of the total base, up three percentage points from a year ago.
The number of 3G subscribers increased to 3.61 million including a base of 907,000 wireless broadband subscribers.
The Singtel group's revenue grew 25 per cent to $S4.47 billion.
Optus is recommended a final ordinary dividend of eight cents a share, an increase of 14 per cent from last year's rate.