ASX-listed wireless broadband provider, BigAir’s (ASX: BGL) gamble with WiMax has brought the company a pre-tax profit of $1.3 million for the full financial year.
Despite claims WiMax is a dying technology, BigAir’s “On-net” fixed wireless revenue growth grew 36 per cent year on year. The organisation’s EBITDA of $2.1 million was a growth of 203 per cent on the previous year.
BigAir CEO, Jason Ashton, claimed there was widespread demand for its solutions in the SME through corporate space.
“We have advantages in being able to offer symmetric speeds for both download and upload, and we can offer coverage where people can’t get fibre and fixed line growth,” Ashton said.
These services comprised the majority of BigAir trade, following the closure of the iBurst network, he said.
It also successfully fended off an acquisition attempt from Clever Communications early in the year.
Ashton said he was confident in the market going forward.
“We experienced growth throughout the global financial crisis, and while there’s still some uncertainty in the market we haven’t felt a reduction in demand for our services at any point,” he said.
“The other big uncertainty for us at this stage is the , however, we believe it is not a threat to us. A lot of organisations are focused on redundancy and disaster recovery, so we see opportunities in offering another, independent connectivity option to the NBN.”