C&W Optus beats expectations

Success in the mobile and internet arenas has largely contributed to better than expected financial results for Cable & Wireless Optus.

The telco giant announced yesterday profit after tax of $113 million for the 12 months ending June 30, 1999. This is 74 per cent higher than the company's forecast outlined last November.

Speaking at the company's annual general meeting yesterday, Chris Anderson, C&W Optus chief executive, highlighted C&W Optus' mobile business as a strong success for the company over the last year.

Anderson said the number of digital customers has increased by 51 per cent over last year to two million mobile customers.

"We are putting on in a month [the number of customers] we were putting on in a quarter last year," Anderson said.

In addition to increasing customer numbers, C&W Optus has also taken a larger proportion of the mobiles market.

Norman Gillespie, chief financial officer, C&W Optus said the telco's share on the mobile market had increased 31 per cent.

Anderson also noted the success of C&W Optus' internet business, including its HFC (Hybrid Fibre Coax) network, and the future potential of internet ventures, Dingo Blue and Optus@Home.

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