MyNetFone profit jumps 40 per cent to $5.8m in 2014

MyNetFone profit jumps 40 per cent to $5.8m in 2014

Organic growth and profitable acquisitions key to company’s financial result

Hosted communications provider, MyNetFone, achieved a record financial result for fiscal 2014, significantly increasing both its net profit after tax (NPAT) and earnings before interest, tax, depreciation and amortisation (EBITDA).

The telecommunications company finished the 12 months to June 30 with a NPAT of $5.8 million, a 40 per cent increase from the previous corresponding period’s $4.1m result.

Its EBITDA rose 48 per cent on the year prior, from $6.1m to $9m.

The results conclude a year in which MNF earned $59.3m in revenue, up 28 per cent from $46.2m. Total dividend for the full year increased 29 per cent to $0.045 per share, with a second half final dividend of $0.025 per share.

“MyNetFone performned very well, with strong organic growth across all the company’s key business units,” MNF CEO, Rene Sugo, said.

“There was particularly pleasing performance in the areas of business and enterprise voice, and wholesale hosted communications.”

MNF’s 2014 performance includes full-year contributions from its acquisitions of GoTalk Wholesale, Connexus, and CallStream, purchases which were completed at the end of December 2012 for $1.4m, $4.75m, and $600,000, respectively.

The MNF board said it is “satisfied” with the contributions from these business units.

MNF acquired the assets of PennyTel and Ivoisys in October 2013 which the board claims have since been restructured and integrated successfully. Both companies contributed eight months of revenue, and are operating profitably.

MNF also acquired iBoss in mid-July which provided it with a software platform for a link between wholesale telecommunications operators and suppliers, including Telstra and Optus.

The board said it is taking a conservative approach and will continue to “actively search” for further takeovers.

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Tags voipIPTelecommunicationsASXmynetfoneprofitfinancialsvoiceEBITDAwholesaleMNFNPATnet profit after tax


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