MyNetFone profits up 40 percent

Internet voice provider MyNetFone has reported a 40 percent increase in net profit, declaring a "record profit result" for the 2014 financial year.

An announcement to the ASX stated that the company recorded $5.8 million in net profit for the year ending 30 June, rising from $4.1 million in 2013.

Revenue was also up 28 percent, now reaching $59.3 million. The Australian telco stated that "all result parameters" were an improvement on the February market forecast update.

"MyNetFone performed very well, with strong organic growth across all the company’s key business units," said chief executive Rene Sugo. "There was particularly pleasing performance in the areas of Business & Enterprise voice, and Wholesale hosted communications."

The results crown a positive year for the communications provider after it was admitted to the ASX All Ordinaries index in March.

MyNetFone had executed an acquisition drive in recent times, buying up PennyTel and Ivoisys in October after doing the same with GoTalk, Connexus and CallStream in December 2012. The latest results included full-year performance from the now-integrated GoTalk, Connexus and CallStream, and eight months of operations from PennyTel and Ivoisys.

In June, Sugo told CRN that MyNetFone is still looking for more purchase opportunities, and the board reiterated this desire in the earnings announcement.

"The board of MyNetFone will continue to actively search for and examine further acquisition opportunities; whilst we remain totally committed to driving growth and performance within the business," read the statement from the company.

MyNetFone also swooped on the iBoss billing system in July after financial year end. MyNetFone stated that iBoss is "a sophisticated software platform that provides the essential link between wholesale telecommunications operators and their suppliers such as Telstra and Optus."

Sugo added: "We are excited about this purchase which is complementary to our current wholesale product offering."

MyNetFone has been busy in the channel as well this year, reforming its partner program in May.