Optus has managed to lift its annual net profit by 1.5 per cent to $787 million despite intense competition from its telco rivals.
The result for the year to March 31 was unveiled as Optus, which is owned by Singapore Telecommunications, announced its fourth quarter net profit also rose 2.1 per cent to $267 million.
However, revenues dipped 1.1 per cent in the quarter to $2.296 million.
Optus said its revenues had come under pressure from intense competition during the quarter and a mandated cut in mobile phone termination rates from 9 cents a minute to six cents.
More to come