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Optus ups network spend as EPL costs weigh

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May 18, 2017

Mobile network Optus says heightened price competition has contributed to a drop in annual profit.

Optus' full-year profit fell 11.8 per cent to $794 million, with the mobile network operator citing factors including heightened price competition and increased content costs.

The Singtel-owned firm, which this year broadcast the English Premier League for the first time, said on Thursday that full-year earnings for the 12 months to March 31 dropped four per cent to $2.67 billion.

"Despite heightened competition in the Australian market, Optus' strategy of delivering customer growth through music, TV and sports content, underpinned by a robust and resilient mobile network, is on track," chief executive Allen Lew said in a statement.

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