James Fernyhough
Optus has reporteda 20 per cent fall in net profit for the first half of the financial year, blaming lower NBN migration charges and workforce restructuring costs.
In the six months endedSeptember, Optus reported a net profit of $259 million, down from $325 million in the previous corresponding period.
The fall for the September quarter alone was even more dramatic, with net profit for the three months plunging 36.6 per cent on the 2017 September quarter, to $105 million.
Optus said the reduction in migration charges that is, payments by NBN Co to telcos when new customers migrate onto the NBN were due to thetemporary suspension of the NBN hybrid fibre coaxial (HFC) rol…
Read the full article at: https://www.afr.com/business/telecommunications/optus-sees-profits-plunge-on-nbn-rollout-halt-20181107-h17n80