Vocus posts positive growth

Wholesale telco’s net profit jumped 54 per cent to $3.7 million

Wholesale telco provider, Vocus (ASX:VOC), has almost doubled its revenue in the first half of the 2011 financial year.

Revenue was up 92 per cent to $13.9 million. This is $6.7 million more than the previous corresponding year.

Earnings before tax reached $6.4 million, up 35 per cent from 2010 while net profit jumped 54 per cent to $3.7 million.

Vocus was acquired for $20 million by First Opportunity Fund in April last year. The telco began trading on the ASX in July.

In October it bought E3 Networks’ datacentre business for $5.9 million and subsequently opened its doors to a new Sydney datacentre last December.

Vocus also secured a deal with Vodafone New Zealand to be its exclusive international transit provider.

“The company’s financial and operational results will enable Vocus to continue to focus on organic growth and explore further acquisition opportunities,” Vocus CEO, James Spenceley, said in a statement to the ASX.

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