ASX listed Comms Group Limited has released financial results for its year ended 30 June 2024, showing growth in revenue and profitability.
The company reported total revenue of $55.5 million, a 7 per cent increase from the previous year.
That growth was entirely organic, with over 90 per cent of revenue being recurring.
Underlying EBITDA rose 36 per cent to $6.6 million, in line with market guidance.
Cash flow performance improved significantly, with operating cash flow up 153 per cent to $3.8 million and free cash flow increasing by nearly 200 per cent to $3.5 million.
A key development was the granting of voice licences across 13 countries in the Asia Pacific region, allowing the company to expand its services to wholesale and multinational corporate clients.
The company declared its first dividend of 0.25 cents per share, fully franked.
"We are pleased with our FY24 results, showing increases in both revenue and underlying EBITDA," chief executive and managing director of Comms Group Peter McGrath said.
"The strong increases in operating and free cash flow were notable achievements," he added.
Comms Group has rebranded its divisions to better reflect their functions: Global UCaaS and Wholesale, Cloud Communications and Collaboration, and Secure Modern Workplace Solutions.
The company expanded its international reach, particularly in the Asia Pacific region, and continued to grow its relationship with strategic accounts, including Vodafone.
Looking ahead, Comms Group plans to focus on the corporate mid-market sector domestically and leverage its expanded Asia Pacific footprint to provide services to multinational corporations across the region.
The company is also working on a digital transformation program to streamline its processes and systems.
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