Optus profits are slim but its mobile subscribers have grown to 9.43 million

Karl Stefanovic kisses Chrissie Swan as she takes a selfie at the 57th Logie Awards. Scott Barbour/Getty Images

Optus grew local Australian full year net profit just 0.7% to $841 million on a 3.8% rise in operating revenue to $8.79 billion. Underlying net profit grew 4% to $873 million.

However, the March quarter saw stronger growth with operating revenue up 11% to $2.29 billion, driven by a higher mobile handset customer base and strong take-up of mobile data plans.

Optus added added 64,000 postpaid handset customers in the three months to the end of March, bringing its total number of mobile subscribers to 9.43 million.

The market leader Telstra had 16.4 million mobile customers at the end of December.

Optus continued to expand its network, with its 4G coverage now reaching 86% of the Australian population.

CEO Allen Lew says competition is intense in Australian but the company’s strategy is working.

“We will continue to lead the market with innovative, value-driven offers, an expanding 4G network footprint and exceptional customer experience,” he says.

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