C&W Optus records $77 million profit

Cable & Wireless Optus yesterday announced profits of $77 million for the nine months to March 31, 1999. For the same period last year, the company recorded a loss of $74 million.

Compared with last year's bottom line loss of $94 million, the company recorded a loss of $8 million, with abnormals of $85 million for the period.

According to officials, the strong results were driven by rapid revenue and earnings growth from the mobile and business networks services division, significant revenue growth from the local telephony business as well as success with product bundling.

"The future is clearly in IP, business services, the provision of data, and the cost-effective servicing of the mass-consumer market," Sir Ralph Robins, C&W Optus chairman, said.