CWO reports strongest half-yearly results

Cable & Wireless Optus has reported its strongest ever half yearly profit and revenue figures.

The telecommunications provider announced a bottom-line profit of $135 million for the six-month period ending September 30 and half yearly revenue of more than $1.9 billion.

This is a 26 per cent increase in total operating revenue from 1998 half yearly figures, according to Norman Gillespie, CWO deputy chief executive. He said 1998 half yearly profit and revenue figures were $38 million and $1.5 billion respectively.

Gillespie said the company wass expecting to sustain a revenue growth rate for the full year, ending March 2000, of around 20 per cent.

Chris Anderson, CWO CEO said the strong results were driven by high growth from CWO's mobile, broadband network, business network services (BNS) and internet divisions.

Revenue grew by 19 per cent in the mobile business, 76 per cent in both the business network services (BNS) and broadband network divisions and 125 per cent in the internet business, the company said.

Gillespie said the company was unlikely to sustain these revenue growth rates in the mobile or BNS divisions for the full year period.

Th BNS unit is more likely to report 50 per cent growth rate over the full period, he said.

Anderson said CWO's new business areas, including its soon-to-be-available cable internet service Optus@Home, and WAP (wireless applications protocol) and GPRS (general packet radio service) mobile services will generate profit and revenue growth over the next five years.

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