Eftel restructures business

Closes Perth and Malaysian office, and makes staff redundant

ASX-listed telco provider, Eftel, has restructured its business after acquiring Engin back in September.

It purchased Engin for $9.1 million at the time.

During the six months to December 31, Eftel shut down its Perth and Malaysian office, which contained back office and contact centre staff. It stated it was able to consolidate those services into its Melbourne office and its existing outsourced contact centre provider.

It also conducted significant management and team restructuring, which cost the company about $1.6 million.

The telco hasn’t revealed how many staff were made redundant in the process.

Due to this, the company suffered a net loss of $46,000. EBITDA for the period excluding redundancy costs and onerous lease provisions of $1.67 million, was $2.1 million. At the same time last year, EBITDA was $1.63 million.

Revenue rose 20 per cent to $34 million with the Engin acquisition contributing $5.75 million in revenue during the reporting period.

2015 State of The IT Channel Survey : IT'S TIME!!! Fill in this year's State of the IT Channel Survey and be in the running to win great prizes. CLICK HERE

Join the ARN newsletter!

Error: Please check your email address.

Tags eftelenginrestructuring

Show Comments
 

Latest News

Apr 24
Technology investment in SMEs set to escalate in 2015: Robert Half
Apr 24
Bulletproof increases focus on southern region in Australia with new senior hire
Apr 24
Hackers exploit Magento e-commerce vulnerability
Apr 24
EXCLUSIVE: Huawei and iCITA - a partnership cemented in the datacentre
More News
27 Apr
Disruptocon
27 Apr
Disruptocon
28 Apr
ESET Launch: Perth
28 Apr
Modern Customer Service Summit
View all events