Uecomm establishes Canberra presence

Uecomm establishes Canberra presence

Fibre broadband specialist, Uecomm, has begun operating in Canberra and expects a revenue boost of up to $80 million in 2004.

Uecomm owns and runs an extensive fibre broadband network throughout the metropolitan areas of Sydney, Brisbane and Melbourne.

Director of products and marketing, Brendan Park, said establishing a local presence in Canberra was the next step for the carrier.

He said the success of its government and corporate customers aided in the decision to move into the nation’s capital.

“Our presence in Canberra ensures that we can now deliver all the benefits of direct connection of the Uecomm network to customers,” he said.

“It will allow our customers to easily and quickly add their Canberra offices to their national data network and give us access to more than 170 government buildings.”

Uecomm is continuing to invest in infrastructure. The company reported earnings before interest, tax, depreciation and amortisation (EBITDA) of $15.1 million for the nine months to September 30, an increase of 78 per cent over the same period last year. To September 2003, core revenue from operations increased by $8.7 million (or 27 per cent), to $41.4 million.

The company’s third quarter results were in line with expectations and the carrier was expecting new contracts from the Canberra venture and existing networks to contribute to growth over the next three months.

Uecomm CEO, Peter McGrath, said new sales contracts signed with customers were a key indicator of how the company was performing.

“We have signed 375 sales contracts with a value of $47 million in the nine months to September 30,” he said “This is in addition to the $86 million in sales contracts signed in 2002.”

Uecomm’s full year forecasts for 2003 remain unchanged. Operating revenue is expected to be in the range of $55 million to $60 million and EBITDA in the range of $18 million to $22 million.

McGrath said that if Uecomm continued to sell sales contracts and provision customers in line with previous performance, he expected it to achieve revenue from operations in the range of $70 million to $80 million in 2004.

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