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M2 posts record FY15 first half

M2 posts record FY15 first half

Experiences 25 per cent jump in net profit to $38.5 million and revenue increase of eight per cent to $546.2 million

M2 Telecommunicaitons' CEO Geoff Horth

M2 Telecommunicaitons' CEO Geoff Horth

M2 Group (ASX:MTU) has reported a 25 per cent jump in net profit to $38.5 million and revenue increase of eight per cent to $546.2 million.

During the first half of 2015 financial year ending December 31, M2 added 61,000 new services including 26,000 broadband services and 14,000 new energy services.

It also rolled out 40 new Dodo Connect Kiosks, bringing the figure up to 60 kiosks across Queensland, NSW and Victoria shopping centres.

It also launched Dodo TV with Fetch and has connected about 1000 customers during its soft launch of Commander Electricity, which will now be rolled out across all channels. It offers business customers the opportunity to bundle their phone and electricity costs with 20 per cent discounts.

It also connected a further six NBN Points of Interconnect, totaling 44.

M2 launched its wholesale Cloud communications platform to partners in February, offering white label opportunities that are ready sell in 30 days.

M2 CEO, Geoff Horth, said the business was increasing its share in core markets and maximising shareholder returns on that growth through a relentless pursuit of operational efficiency.

The company is on track to meet its full 2015 financial year guidance of about 8 – 9 per cent revenue growth and 15 – 20 per cent net profit.

It plans to continue its focus on improving its business, enhance customer experience, invest in talent and leadership development as well as expand its NBN footprint.

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