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Australia's MNF Posts Strong Financial Results
MNF Group recently provided details about its well-placed financial standing.
The company’s EBITDA was AU$23.9 million and fiscal year net profit for the service provider was AU$12.2 million. Both of these MNF metrics were up 34 percent. The company’s revenue was AU$191.8 million, up 19 percent. These numbers include five months of contributions from Conference Call International and 12 months from Telecom New Zealand (News - Alert) International.
Conference Call International is the conferencing provider MNF closed on in February for AU$17.5 million. MNF said it reached all milestones during the financial year related to the CCI (News - Alert) deal.
But although these acquisitions contributed to MNF’s financials, the company’s CEO Rene Sugo chalked up the company’s success primarily to organic growth.
“Our performance this year is largely a result of organic growth within all three segments of the business – Domestic Retail, Domestic Wholesale and Global Wholesale.” Sugo said. “The business, as a whole, has been focussed on growing our more valuable high-margin products with recurring revenue, and moving away from some of the lower margin usage-based products. The company expects this transformational trend to continue well into the future as consumers and businesses quickly act to embrace our new MNF powered applications, driven by roll out of the NBN.”
Here are some of the metrics from MNF’s different groups:
- Domestic Retail residential data services this year increased by 8 percent to reach 12,900.
- The Domestic Retail SMB segment reported virtual PBX (News - Alert) growth of 5 percent.
- Domestic Wholesale customers increased 21 percent to 287, and it had 645,000 numbers ported as of June 30.
MNF was founded in 2004. The Sydney-based company, which listed on the Australian Stock Exchange in 2006, is capitalized at more than $300 million. It’s one of Asia Pacific’s fastest growing technology companies.
Edited by Alicia Young