M2 Group marks record profit at $30.9m

M2 Group marks record profit at $30.9m

Company boasts organic growth across key financial metrics

Australian telecommunications wholesaler, M2 Group, finished the first half of the 2014 financial year with $30.9 million in net profit after tax (NPAT), a 26 per cent jump over the previous corresponding period.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 38 per cent to $75.8m from $551m, with total revenue hitting $506, up 66 per cent for the six months ended December 31, 2013.

Fully-franked interim moved up by 15 per cent to $0.115.

M2 chief executive officer (CEO), Geoff Horth, said the company added a further 50,000 services in the half.

In a statement to the ASX, M2 attributed the results to significant progress on the integration of Dodo and Eftel, which were acquired in May 2013; this included the opening of a further 13 Dodo Connect Kiosks, increasing retail presence to 20 stores.

The restricting of its consumer segment operations was another key factor, and strengthened both sales and service capability while improving cost to acquire and serve.

M2’s National Broadband Network (NBN) footprint was expanded to 33 points of interconnect (POIs) nationally in the half.

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Tags TelcoTelecommunicationsfinancialsM2 group


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