PacNet posts Q1 profit

Broadband provider Pacific Internet (PacNet) has posted a 14.1% rise in profits for the quarter ended 31 March 2005 to SGD1.1 million, its 13th consecutive profit. Revenues for its broadband operation grew by 7.8% year-on-year to USD12.5 million, contributing 50.2% of total revenues. Corporate broadband revenue grew by 17.4% in the year, while value added services revenue rose by 11.1% to USD2.9 million. The company claimed 103,180 corporate customers at the end of March, and 338,190 residential customers.