Cable & Wireless Optus, Australia's second largest carrier, expects to grow its earnings in the low teens in the current year.
Optus, in which Britain's Cable & Wireless has a 52.5 percent stake, posted earnings before interest, tax, depreciation and amortisation (EBITDA) of AU$1.406 billion for the year ended March 31, 2001, from AU$1.163 billion for 1999/2000.
"Growth in earnings before abnormals will be at the low teens levels or higher," it said.
Optus also said that average revenue per user for its mobile division fell 14 percent for the year end March 2001, largely due to a 39 percent increase in customers and a rise in pre-paid customers.
The boards of Optus and Britain's Cable & Wireless agreed to a takeover from Asia's eighth-largest carrier, Singapore Telecommunications, subject to regulatory approval.
Optus said it expected its profit share for 2001/02 from the Southern Cross cable joint venture, which links New Zealand, Australia and the United States, to be AU$100 million after it boosted its 2000/01 bottom line with a AU$160 million pre-tax dividend.
"We expect profits of at least AU$100 million in the current year and dividend streams of at least AU$80 million per annum over the next few years," Optus chief financial officer Norman Gillespie told reporters.
A breakdown showed mobile revenue rose by 20 percent to AU$2.12 billion, data and business gained 20 percent to AU$1.82 billion while consumer and multimedia jumped 15 percent to AU$998 million to break even at the EBITDA line in the March quarter.
SingTel said today its bid for C&W Optus was on track and expects to dispatch offer documents to Optus shareholders in the week starting May 21.
