Acquisitions triple BigAir revenue growth
- 24 August, 2011 12:49
Fixed wireless broadband provider, BigAir (ASX:BGL), achieved a record revenue of 105 per cent totalling $15.5 million in the 2011 financial year ending June 30.
This is in comparison to last year’s result, which achieved $7.6 million. It also delivered a record in EBITDA profit of $5.4 million, an increase of 69 per cent compared to FY10, which totalled $3.2 million.
Underlying net profit was also up 30 per cent to $2 million.
With both AccessPlus and StarTech Communications acquisitions being fully integrated, the two will be rebranded as BigAir Community Broadband.
BigAir expects the acquisitions will deliver more revenue and EBITDA in FY12.
To date, the combination of the acquisitions along with sustained organic revenue growth in its core business, helped deliver record triple digit revenue growth for BigAir during FY11, the company said in a statement to the ASX.
BigAir CEO, Jason Ashton, said it was a pleasing result despite the large amount of work involved in integrating three acquisitions.
In the year ahead, BigAir is rolling out a new network on the Sunshine Coast in Queensland. Once it’s complete, the fixed wireless broadband provider said it could lay claim to providing extensive network coverage in 8 of the 10 largest and most populous urbanised areas in Australia. Canberra and Wollongong are two remaining areas which would round out the top 10.