Vocus revenue and net profit rise
- 28 February, 2013 11:15
Telco services provider, Vocus Communications (ASX:VOC), has reported a 40 per cent rise in revenue to $30.6 million and EBITDA up 29.3 per cent to $9.8 million. NPAT was up 19.8 per cent to $4.2 million, in the first half of FY13 to December 31.
The company stated its revenue growth was driven by internet (31 per cent increase), fibre (152 per cent increase) and datacentres (88 per cent increase).
Vocus CEO, James Spenceley, said FY13 was a transformational investment phase for the company, and significant funds were being invested in building long term assets.
“Cash flows are robust and expected to grow over time as Vocus shifts its focus from building infrastructure to the leveraging the assets built,” he said.
Spenceley said it had about $13.3 million in cash, and has signed a term sheet for $13 million additional acquisition bank facilities.
“This will allow the company to continue its organic and inorganic plans, giving the company a strong platform for continued growth,” he said.
Vocus entered an agreement in December to purchase Newcastle-based Ipera Communications. The acquisition was completed in January and an initial consideration was paid of $4.9 million made up of 75 per cent cash and 25 per cent Vocus shares.
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