Mobile revenues lift Optus results

Consumer fixed off-net takes a beating, but mobile grows

Optus has reported a positive yearly and fourth quarter result driven by continued double digit growth in its mobile services revenue.

For the year to 31 March 2010 the Singtel subsidiary reported operating revenue growth of 7.5 per cent, operational EBITDA growth of 4.2 per cent to $2.15 billion, and net profit growth of 16 per cent to $676 million.

For the quarter to 31 March 2010 operating revenue quarter on quarter was up 61 per cent, operational EBITDA was up 4.5 per cent $610, and net profit was up 14 per cent to $220 million.

In documents lodged with the ASX Singtel said total mobile services revenue for the quarter had had increased 10.1 per cent to $1.39 billion. For the year total mobile revenue grew 12.9 per cent to $5.57 billion.

Prepaid mobile subscribers for the year grew 2.7 per cent to 4.3 million, while postpaid mobile subscribers grew 16.6 per cent to 8.49 million.

During the quarter 254,000 new mobile and wireless broadband subscribers were added in the March quarter – the highest quarterly performance in five years according to Singtel.

Optus fixed line business was less positive, with business fixed line voice revenue declining one per cent during thee quarter and 5.3 per cent during the year.

Total wholesale fixed revenue was up just 0.7 per cent in both quarter and year.

Consumer fixed on-net revenue for the quarter was up 6.4 per cent during the quarter, and 6.3 percent during the year. Consumer off-net revenue was down 38.7 per cent for the quarter and down 40.9 per cent for the year.

Looking at the wider business, Singtel said Optus had during the quarter received regulatory approval for its acquisition of spectrum in the 2100MHz band from Qualcomm. The deal will result in a doubling of spectrum holdings, and increase in data capacity, across Australia’s capital cities.

Optus also launched its Business App Store and expanded its consumer apps offerings. Data plan allowances were also increased under the company’s ‘yes’ Social and ‘yes’ Business Complete plans reflecting the popularity of accessing social networking sites from mobile devices.

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