iiNet profits up 12% as fiscal year figures announced

18 Aug 2008

Australian broadband provider iiNet has released its financial results for the year ended 30 June 2008, reporting a 12% rise in net profit to AUD19.9 million (USD17.2 million). The operator also reported that earnings before interest, tax, depreciation and amortisation (EBITDA) rose 8% to AUD49.5 million, with revenues climbing 9% year-on-year to reach AUD251.2 million. Subscriber growth and the purchase of Australian telco Westnet were highlighted as key factors in the positive results, with iiNet indicating that further acquisitions were being considered. The May 2008 purchase of Westnet was reported to have increased iiNet’s DSL subscribers by 140,000 to 373,000.

Australia, iiNet (incl. Internode)