Sydney-headquarter MNF Group – the parent of MyNetFone – has seen a surge of 177 percent in its half-year results to hit a revenue $84 million for the six months ending 31 December.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 64 percent to $8.2 million. Net profit after tax (NPAT) increased by 29 percent to $4 million.
In a statement to ASX, the company said the increase in revenue was attributed mainly to the group’s acquisition of the wholesale voice business of Telecom New Zealand International (TNZI) for $22.3 million last year.
“The result produces a robust first-half balance sheet with $10.9 million in cash and a reduction in the TNZI acquisition debt to $15 million, resulting in a net debt of $4.1 million.
“The large increases in revenue and net profit for the period versus the prior corresponding period are attributable to a combination of strong organic growth in the business, and a full half-year period contribution from the TNZI global wholesale business,” the company said.
The directors believe the company will achieve a forecast EBITDA of $17.3 million and NPAT of $8.4 million for the full year ending 30 June 2016.
“With a discerning and conservative approach, the board of MNF Group will continue to actively search for further acquisition opportunities, whilst we remain totally committed to driving growth and performance within the business,” it said.
MNF Group Limited is an integrated telecommunications software and network provider, specialising in IP voice communications that was founded in 2004 and listed on the ASX in 2006.
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