My Net Fone enters ASX trading halt

My Net Fone enters ASX trading halt

Pending capital raising announcement

ASX-listed My Net Fone (ASX:MNF) has entered into a trading halt pending a capital raising announcement through its investors.

It expects that the trading halt will remain in place until June 29.

During the first of FY15, MyNetFone profit surged 31 per cent on the back of strong growth in the small business and managed services segments.

The company reported $3.1 million net profit for the half and revenue increased to $30.3 million, while EBITDA increased 36 per cent to $5 million.

At the time, My Net Fone directors stated the business was on track to meet previously stated forecasts of EBITDA of $11.2 million and net profit of $7.1 million for the full year ending June 30.

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