Optus and its parent, Singapore Telecommunications, will report results for the year to March on Wednesday that will remind Telstra of the opportunity it missed in Asia. SingTel's Australian arm is now basically a smaller version of Telstra, and its results will reveal that it is under similar pressure to the market leader. Optus' fixed line telephone business is much smaller than Telstra's, but like Telstra it is losing business to wireless networks and seeing connections cancelled as customers switch from dial-up internet to broadband. Profit margins in the now mature mobile telephony market continue to be tight, and in the March quarter competition for corporate business intensified. In essence, the supernatural sales and profit growth that accompanied Optus' expansion and easy annexation of market share from the former monopoly, Telstra, is over. Optus has reached what racing aficionados might call "correct weight", and its profit growth is slowing to reflect that fact.