Singapore Telecommunications Limited’s (ASX:SGT) Australian arm Optus, has boosted its full year profit by 14.6 per cent to $835 million.
Despite a decline in revenue of 5% Australia’s second largest telco says the profit jump reflected its strategy of strong cost management and yield improvement.
The Australian Chief of Optus, Paul Sullivan, says that taking the necessary steps to transform and restructure the business strategically for sustainable growth is behind the strong result.
During the quarter the company added 342,000 4G mobile customers.
The market is yet to respond to the news, Singapore Telecommunications last traded at $3.27