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NextDC swings to net profit for half year

NextDC swings to net profit for half year

Sale and lease back of certain datacentre property assets lifts profit

Datacentre provider, NextDC, has swung to a net profit of about $4.7 million in the first half ending December 31 from a net loss of about $3.2 million, helped by the sale and lease back deal of certain datacentre property assets.

Last year, NextDC embarked on a sale and lease back of certain assets to real estate investment trust Asia Pacific Data Centre Group (APDC). NextDC retains 23 per cent interest in APDC.

It earned about $112 million in capital proceeds from the disposal, and a profit of about $5.7 million.

NextDC’s operating revenue increased to $3.7 million compared to $259, 000 last year. It posted Ebitda of $7.7 million, which includes the APDC transaction.

It had $77.7 million in cash at the end of December, and has no debt.

During the period, it signed over 100 unique customers and 160 service providers, according to the company’s filing with the Australian Stock Exchange.

NextDC CEO, Craig Scroggie, said, “The company has achieved many important milestones in development, sales and capital recycling during the period and is well placed to capitalise on its position as the only national provider of vendor and carrier neutral data centres.”

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