Optus has completed its full fiscal year to 31 March and collected AU$9.1 billion in operating revenue, which represents a 5.7% increase year-on-year. But a 7.6% increase in operating expenses to AU$6.5 billion saw the earnings reported by Optus decrease up by to 16%. Earnings before interest, tax, depreciation, and amortisation (EBITDA) for the full year dropped by 1% to AU$2.7 billion, underlying net profit fell by 8% to AU$716 million, and net profit shrunk by 16% to AU$659 million. In line with its third quarter results, Optus pinned the drop on the National Broadband Network. “Net profit was lower due mainly to the impact of the temporary suspension of NBN HFC migrations together with higher depreciation and amortisation costs and exceptional items as Optus continues to transform its business,” the company said. For its fixed broadband products, the number of customers on its network was steady on 1.2 million customers, as users shifted form its HFC and ADSL products across to NBN products. In mobile, revenue increased for the full year to just shy of AU$6 billion, a 10% jump, as its number of mobile subscribers increased by 1.7% to 10.3 million. With that number, Optus now has 6.7… Read full this story
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