Organic and acquisition growth have led internet, fibre, voice and datacentre service provider, Vocus Communications (ASX:VOC), to achieve underlying net profit of $8.7 million was up 3.5 percent in 2013 financial year.
Revenue grew 47.8 per cent to $66.9 million and EBITDA was $22.6 million, up 35.7 per cent.
Its fastest growing product revenue segment was fibre and ethernet growing 180 per cent and datacentres also grew 67 per cent compared to the previous financial year.
During the 12 months, Vocus increased its fibre network by 110 per cent and increased its datacentre capacity by 34 per cent.
Fibre, ethernet and datacentres contribute to almost half of Vocus’ revenue with internet and voice contributing to the other half.
Vocus CEO, James Spenceley, said FY13 was a transformational investment year with returns being realised during the reporting period.
“Investment is ongoing but it is expected to decrease in FY14,” Spenceley said. “Our cash flows are robust and expected to grow as we shift our focus from building infrastructure to leveraging the assets built.”
In a statement to the ASX, Vocus said underlying financial performance was impacted by net foreign exchange loss that is largely non-cash and relates to unrealised differences on US dollar denominated IRU liabilities, which mature monthly through August 2018.
In 2010, Vocus bought E3 datacentres for $5.9 million.
It also purchased PertIX in 2011 for $6.2 million.