Telco MyNetFone has announced a 58 per cent profit increase for the second half of 2013.
The company, which acquired Pennytel in October of last year, reported a profit of $2.4 million, while earnings before interest, tax, depreciation and amortisation increased by 85 per cent to $3.7 million, compared to the previous period.
The comparative increases include contributions from the successful integration of the GoTalk Wholesale, Connexus and the Call stream business, for the entire period.
It also reported revenue of $28.5 million – up 55 per cent from $18.4 million and a first half dividend increase of 33 per cent to two cents per share fully franked.
Historically, the company enjoys stronger performance in the second half of the year due to seasonal spending patterns.
According to a company statement, the directors are of the opinion the business is on track to meet previously stated forecast of EBIDA of $8.6 million for the full year ending June 30, 2014.
“With a discerning and conservative approach, the board of MyNetFone will continue to actively search for further acquisition opportunities, whilst we remain totally committed to driving growth and performance within the business.” a company statement said.