Optus has allocated $140 million for “extraordinary expenses” associated with its reaction to the data breach in September during this fiscal year.
The cost surfaced as the airline released its financial results for the first half of the year [pdf].
The carrier stated: “In the present period, an amount of A$140 million has been provided as an unusual expense for the projected expenses
According to Singtel’s management discussion and analysis paper [pdf], the funds will also be used to replace identification documents as well as for “a programme of consumer activities, including an external independent evaluation and third-party credit monitoring services for impacted clients.”
Deloitte is managing the external review.
In connection with the breach of its Dialog subsidiary, Singtel also mentioned a $2 million provision for similar actions.
Singtel also cautioned that additional costs could result from any action by the Department of Home Affairs, the Australian Communications and Media Authority, and the Office of the Australian Information Commissioner.
The group is still seeking legal counsel on these issues as it is unable to predict the financial impact, if any, of these investigations and matters at this time. cited Singtel.
The $3.9 billion in half-year revenue for Optus was essentially flat from the same period in 2017. To $164 million, its EBIT increased by $51.3 million.
