Investors back Optus strategy as revenue and profit continue to fall

Optus, the local operation of dual-listed Singapore Telecommunications, showed a 1. 8 per cent drop in net profit to $164 million for the June quarter, compared to $167 million for the same period last year, as year-on-year operating revenue declined 2. 8 per cent.

Optus is hoping that investment in better network coverage and marketing will help it win back mobile customers and finally turn the tide on nearly two years of declining revenue. “Optus is returning to its challenger roots and taking the fight to Telstra,” SingTel-Optus chief country officer Paul O’Sullivan said.

The group reports on a financial year calendar that ends on March 31. “Compared to Telstra, Optus still has a lot of work to do in terms of customer retention and revenue growth,” Nomura analyst Sachin Gupta said.

Read more here: SMH


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