Telstra profit shrinks while Optus gains

Dylan Bushell-Embling
12 Aug 2010
00:00
Australian incumbent Telstra has reported declining earnings in FY10, while its closest competitor Optus saw strong gains.
Telstra's net profit shrank by 4.7% to A$3.88 billion ($3.48b), during what CEO David Thodey called “a challenging year.”
Revenue shrank 2.2% to A$24.8 billion, while ebitda declined 0.9% to A$6.5 billion.
Adjusting for the recent A$170 million writedown on Hong Kong unit CSL, as well as currency fluctuations and other factors, ebitda would have grown by 1.3%.
While mobile sales increased 5.9%, PSTN take-in declined by 8% or over $500 million. Revenue at CSL slumped 22.1% to $219 million.
Subscriber figures told a similar story, with the company adding 447,000 new postpaid mobile customers and 76,000 mobile broadband users, but losing 326,000 fixed retail lines and 19,000 fixed broadband customers.
Telstra had 7 million postpaid mobile subscribers and 3.5 million prepaid mobile customers by the end of the year. Blended mobile ARPU grew just 0.1% to $50.61.

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