iiNet HY profit up 6%
February 21, 2010
iiNet Limited (IIN) reported a half year statutory NPAT of $12.1m, up 6% on last year’s corresponding period. The company reaffirmed its previous 2010 full year guidance of underlying EBITDA in the range between $75 million to $80 million.
For the first half, underlying EBITDA was $37.4 million, up 20% on last year.
“iiNet’s positive half year result, combined with an improved domestic economic outlook and exciting pipeline of product and content initiatives, provides a strong foundation for continued growth over the 2010 financial year and beyond,” the company said.
Half year revenue grew by 11% to $228.1 million and subscriber services grew by more than 5% to almost 800,000.
Chief Executive Officer, Michael Malone said the company’s financial and operational results would enable it to continue to focus on organic growth and to explore further acquisition opportunities.
At 1043 AEDT, iiNet shares were flat at $2.18.
For the first half, underlying EBITDA was $37.4 million, up 20% on last year.
“iiNet’s positive half year result, combined with an improved domestic economic outlook and exciting pipeline of product and content initiatives, provides a strong foundation for continued growth over the 2010 financial year and beyond,” the company said.
Half year revenue grew by 11% to $228.1 million and subscriber services grew by more than 5% to almost 800,000.
Chief Executive Officer, Michael Malone said the company’s financial and operational results would enable it to continue to focus on organic growth and to explore further acquisition opportunities.
At 1043 AEDT, iiNet shares were flat at $2.18.
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