iiNet revenue up 45 per cent, AAPT buy pays off

iiNet revenue up 45 per cent, AAPT buy pays off

Perth-based ISP has reported solid growth in the first half of its 2011 financial year

Perth-based ISP, iiNet, has reported solid growth for the first half of the 2011 financial year.

Its revenue jumped 45 per cent to $329.7 million compared to the previous corresponding year. Earnings before tax was up 25 per cent to $46.8 million while Net profit reached $17.2 million, a 16 per cent growth from the previous year.

The company is on-track to meet its full year earnings before tax guidance of $106 million, according to the ISP.

iiNet has also managed to boost its broadband customer base by 20 per cent to 650,000.

This was partially due to its acquisition of AAPT’s consumer division in September last year.

The company also acquired Melbourne-based ISP, Netspace, last year.

During 2010, iiNet launched a swathe of new products including FetchTV, its mobile voice service and a new BoB phone and Internet system developed by its internal research and development division, iiLabs.

“iiNet’s financial and operating results over the past six months indicate that we are on track to achieve full year EBITDA guidance of $106 million,” iiNet chief, Michael Malone, said in a statement.

“iiNet is well placed to respond to the challenges that lie ahead as the industry evolves given our position as the leading challenger brand, with a growing product suite, and market leading customer service levels.”

Malone also said iiNet is well-place for the National Broadband Network (NBN) rollout.

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Tags iiNetTelecommunicationsaaptnetspaceNational Broadband Network (NBN)FetchTV2011 financial yearBoB phone

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