MyNetFone reports record first fiscal half results

Beats its records without the consolidation of acquisitions

Australian telecommunications provider, MyNetFone, has posted a record financial performance for the first half of its fiscal calendar (ended December 31, 2012), claiming all sectors of the business performed well.

In comparison to the same period the previous year, the telco reported a 79.5 per cent increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to $1.99 million, as well as a 60.9 per cent increase for net profit after tax (NPAT) to $1.5m.

First half revenue is recorded at $18.43m, with first half dividend increase of 87.5 per cent to $0.015 per share fully franked.

MyNetFone said the results are based entirely on organic growth within the company as it is yet to book any revenue and profit streams from the consolidation of recent acquisitions, GoTalk Wholesale and Connexus. However, the costs associated with the acquisitions are absorbed in these results.

According to a statement, the MyNetFone board is satisfied that the business is on track to deliver the previously published forecast guidance for the full year, ending June 30, as historically, the telco has recorded stronger second half performances.

“The company is expecting to consolidate significant revenue and profit streams from its recent acquisitions,” the statement said. “We remain comfortable with the published guidance for these new businesses and MynetFone is scheduled to issue a consolidated and updated guidance to the market prior to the end of April.”

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More about: Connexus, MyNetFone
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Tags: revenue, mynetfone, acquisitions, EBITDA, NPAT, Telco, financial results, Telecommunications
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