Publicly listed telco services business CommsChoice Group has seen a return to profitability for the first half of the 2020 financial year, ending December 31.
Earnings before tax increased in the first half to $1.5 million and statutory net profit returned to $1.5 million in the black from $700,000 in the red in the previous corresponding period.
Revenue took a slight hit from $10.7 million down to $9.7 million, following the company’s restructure in late FY19. The restructure involved a detailed review of its sales and customer facing activities.
The business' CEO and managing director Peter McGrath said he was pleased with the progress achieved during the short period into FY20, as it maintains a strong qualified sales pipeline of upcoming projects.
“CommsChoice has beaten expectations and continues to see strong demand from business and corporate mid-market customers for our products and services,” he said.
In December, the company launched a new website and online ordering capability and also made investments into upgrading its global cloud phone infrastructure and MS Teams Calling gateways.
Furthermore, McGrath said it was fully focused on executing a profitable growth strategy and securing new customers via its key channels to market.
“The market opportunity remains significant for CommsChoice with our ability to offer additional value for clients and the latest service offerings in the unified communications space,” he said.
“We are particularly pleased to see the uptake of our MS Teams Calling offering by Australian and overseas corporations, and believe we are now one of the leading players in the market today with this offering."