Optus Profits Up 41%, Mobile Down

Written by Oonagh Reidy     13/02/2014 | 12:07 | Category: INDUSTRY

Optus strong profit growth as it shakes up retail

Optus Profits Up 41%, Mobile Down

Telco says growth is strong as net profits rise 41% to $227m and EBITA rose 9% for the quarter to 31 December. 

The significant profit surge was despite a 5% decline in revenue, due to increased service credits on device plans and reduction in mobile termination fees. 

The telco said it has 572,000 mobile postpaid customers at end of the qr or 22% market penetration. It also said almost one in three customer 'tiered' up and churn, the rate at which (postpaid) mobile users left the network, fell to 1.4%. 

The number of complaints telco ombudsman (TIO) also halved for the quarter to 30 September

Kevin Russell, Country Chief Officer, said, "our focus at Optus is on delivering sustainable profit growth and making significant improvements in the experience we deliver for our customers. This quarter has seen great progress in both these areas.
He said the telco's benchmarks for customer experience have entered into positive territory for the first time in years. 

"Optus is making real progress, increasing its leadership over key competitors in customer advocacy. We're seeing an accelerated take-up of initiatives like My Plan, which provide customers with greater certainty over the cost of data usage. Customer advocacy is a critical platform for our business to grow strongly in the years ahead," Russell said.

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