Bad sig­nal in profit hit to Op­tus

The Gold Coast Bulletin - - BUSINESS - SUPRATIM AD­HIKARI

OP­TUS has suf­fered a slump in quar­terly profit as re­struc­tur­ing costs burn a hole in the telco’s books.

The com­pany, owned by Sin­ga­pore Telecom­mu­ni­ca­tions, yes­ter­day re­ported a net profit of $105 mil­lion for the three months to Septem­ber. That was down 36 per cent from $165 mil­lion for the same pe­riod a year ear­lier.

Op­tus has been ag­gres­sively shed­ding jobs as it over­hauls its in­ter­nal struc­ture and man­ages op­er­at­ing costs. Lower pay­ments for customers mov­ing to the na­tional broad­band net­work also took a toll.

The telco has been in­vest­ing heav­ily in con­tent and its mo­bile net­work but has come un­der scru­tiny in re­cent months.

Its ef­forts to ex­clu­sively broad­cast the soc­cer world cup this year failed amid on­go­ing tech­ni­cal prob­lems.

Op­tus was also sin­gled out in the lat­est Telecom­mu­ni­ca­tions In­dus­try Om­buds­man re­port, which high­lighted a 35 per cent surge in com­plaints from the telco’s customers the past fi­nan­cial year.

In a state­ment yes­ter­day, the telco pinned that slide on “sea­son­al­ity and in­tense com­pe­ti­tion”.

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