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Clever upgrades profit guidance

The fixed wireless ISP is expected to be out of debt by May

Fixed wireless ISP, Clever Communications, has upped its net profit forecast and is expected to be out of debt by May.

Initial predictions for the company’s net profit have been bumped up to $1.2 million - $1.4 million from $1 million - $1.25 million.

Clever’s earnings before tax stands at $1.6m for the financial year ending June 30, 2010. This figure is forecast to reach up to $2.2 million.

In a statement, the ISP said contracts announced late last year were now fully operational and would deliver about $1.2 million revenue per annum.

Clever’s cash deposit is $2.6 million.

Nominations for the 2012 ARN IT Industry Awards open on Tuesday, June 12.

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