Inabox Group revenue reaches $46.9m but profit slips again
- 29 August, 2014 10:40
The Inabox Group finished fiscal 2014 on a similar note to its half-year financial performance; the wholesale telecommunications provider’s revenue increased, but total net profit after tax (NPAT) slipped.
In its financial report to the ASX, Inabox revealed that NPAT amounted to $1.1 million for the 12 months to June, a decrease of 11.1 per cent. After amortisation adjustments, that figure stands at $1.7m, up $0.3m on the previous year.
Regardless, Inabox chief executive officer (CEO), Damian Kay, said 2014 was a “particularly pleasing” financial year which marked a “growing transformation of Inabox Group’s business”; the company shifted from strictly voice communications provision to ICT, data, and telco services.
The changing face of Inabox led to a healthy revenue growth of 13 per cent to $46.9m.
The performance is in part the result of the integration of Inabox’s first acquisition, iVox, which it purchased shortly after its initial public offering (IPO) of $2.9m in June 2013.
Other contributions include the increase of IP-based voice telephony, the launch of an enablement capability servicing primarily the consumer segment through retail services providers (RSPs) – it now works with more than 300 of these – and recurring revenue generated from the existing channel customer base.
Inabox’s transition continues into 2015 following the July buyout of Neural Networks for $350,000 as part of its bid to build a Cloud play.
The company continues to hunt for further acquisitions as part of its growth plans. In June, Kay told ARN Inabox is in talks with a number of smaller, competing wholesale services providers and small Cloud companies which it will take out of the market with purchases.
“While our vision is to be recognised as a technology-driven telco company and to expand into new technology segments, our goal will also be to continue delivering results from our existing business through new products and with the benefit of our acquired ICT capabilities,” Kay said.