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.

Join the ARN newsletter!

Error: Please check your email address.

Tags eftelenginrestructuring

Comments

Comments are now closed

 

Latest News

03:26PM
Phil Cameron exits IBM
02:37PM
NICTA chief executive resigns
11:30AM
Rhipe acquires nSynergy for $25.35 million
Nov 27
Resellers are becoming MSPs: CA Technologies
More News
03 Dec
DC Infrastructure Solutions Professional
04 Dec
DC Infrastructure Delivery Professional
16 Dec
DC Infrastructure Solutions Professional
17 Dec
DC Infrastructure Delivery Professional
View all events