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.

CHANNEL CHOICE: Vote Now for your favourite in the three categories: Vendor, Distributor and Reseller. Voting closes August 8.

Tags eftelenginrestructuring

Comments

Comments are now closed

 

Latest News

09:49AM
Xiaomi's Mi4 brings a touch of Apple to the open world of Android
03:38PM
Scott Leader new executive director A/NZ for Pegasystems
12:20PM
Zendesk expands Melbourne operation
12:18PM
Planet Tel acquires Via IP to move into wholesale aggregation
More News
24 Jul
Veeam’s Crazy 8 Roadshow
24 Jul
The Rise of the Challenger Marketer
24 Jul
Executive Sales Breakfast Briefing
24 Jul
Dell Connected Security: Listen to what the experts have to say about security
View all events