C&W Optus makes $24 million profit

Following half yearly profit earnings of $24 million before tax and abnormals, Cable & Wireless Optus is on track to achieving its targeted full-year forecasts.

The telecommunications carrier announced yesterday its half-yearly profit had increased by $96 million over the same period last year.

According to officials, improvements in Optus' mobile business, and increases in its local telephony base and business network services contributed to the results.

In the mobile market, total customer base had increased 12 per cent to more than 1.8 million compared with the same period last year.

Revenue from corporate and business services customers grew 29 per cent and more than 49 per cent of growth in revenue by the services division came from an increase in data and other related services, officials said.

According to Chris Anderson, Optus chief executive, local telephony and Internet services should contribute strongly to revenue growth in the second half of the year.

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