Macquarie Telecom Group (ASX:MAQ) has reported a net loss after tax of $4.3 million for its financial year 2015, ending June 30.
Its losses dipped further from last year, which accounted to $0.8 million. As for its EBITDA, it reported a profit of $26.3 million, up from $25.5 million last year.
According to Macquarie Telecom CEO, David Tudehope, the results reflect a lower recurring maintenance CAPEX of $14.7 million and the first tranche of Intellicentre 2 funds received on August 10 of $40.3 million, resulting in a cash position of about $25 million and no debt.
In addition, he highlighted a new strategy coupled with completion of three-year investment phase in new datacentres and Cloud computing technology.
According to Tudehope, it positions the company to leverage its investments for revenue growth and improved profit performance.
He also mentioned the sale of land, shell and core building of Intellicentre 2 for consideration of $43.3 million and at the same time, the signing of a triple net lease for 20 years with 2 five year options.
The company expects to continue its growth in revenue for FY16.
It mentioned on a statement on the ASX that its hosting business will continue to drive increased performance in the core managed hosting business, leveraging the industry move from dedicated managed server infrastructure offering to lower cost Virtual Private Cloud.
In addition, it expects Hosting Government to continue to increase Secure Internet Gateway revenue. It also aims to introduce other products to existing Government customer agencies such as secure Cloud.