AAPT reports revenue jumps 50pc

AAPT released its annual results yesterday revealing revenue growth of 50 per cent on last year's revenue of $500 million.

Total revenues for the year stood at $750 million, with after-tax profits at $29.5 million.

According to officials, Cable & Wireless Optus' hostile take-over bid earlier this year affected results, leading to an abnormal loss of around $5 million.

Revenue growth was driven by success in the international, mobile and domestic markets and online services, officials said.

International revenue grew by 41 per cent to $193 million, domestic revenues were up 16 per cent to $163 million and mobile revenue increased almost 300 per cent to $173 million.

Meanwhile, AAPT yesterday announced its has selected Samsung Electronics to build its CDMA (Code Division Multiple Access) network.

In a deal worth around $375 million, Samsung will design, construct, operate and maintain the network in addition to providing systems integration services, officials said.

Officials said AAPT's CDMA network will be operational by the third quarter of 2000.