Virgin posts first profit

31 Oct 2003

Mobile virtual network operator (MVNO) Virgin Australia yesterday reported EBITDA of AUD342,000 for the three months to the end of September 2003, its first quarterly profit since launching three years ago. The cellco, which operates under a wholesale agreement with network owner Optus Mobile, said revenues over the previous twelve months grew by 42% whilst operating costs fell by 25%. It is aiming to add 40,000 new subscribers by the end of the year to take its total to 400,000.