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M2 Group nets $73.7 million in profit

M2 Group nets $73.7 million in profit

Underlying net profit increased to $100 million

M2 Group's Geoff Horth

M2 Group's Geoff Horth

M2 Group has seen its net profit jump to $73.7 million, up from $67.1 million in 2015 financial year.

Revenue increased to $1.1 billion, up from $1.02 billion and EBITDA increased from $160 million to $170 million.

Underlying net profit moved up 17 per cent to $100 million.

During FY15, M2 expanded its Dodo Connect Kiosks into three new states - NSW, Queensland and South Australia, aiming to roll out 48 new locations. It also launched a franchise model, which has 11 locations under its belt.

It also launched its Wholesale Cloud Communications Platform, encompassing NBN plus IP and hosted voice, connecting to 21 new NBN Points of Interconnect taking the figure up to 52, with the potential to target more than 1 million premises, the company said in its financial report.

In FY16, it expects revenue to grow between 24 to 26 per cent and net profit to increase up to 35 per cent.

M2 Group CEO, Geoff Horth, said the foundation it has created in FY15 and the acquisition of CallPlus in New Zealand, provide an organic growth platform, creating shareholder value.

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