iiNet, Australia’s third largest broadband provider by subscribers, has released financial results for the six months ended 31 December 2008, revealing a 50% rise in net profit against the same period last year. iiNet’s net profit for the six-month period was AUD11.4 million (USD7.36 million), whilst revenue soared by 75% year-on-year to AUD205 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) were up 35% to AUD31.1 million. iiNet’s average revenue per user (ARPU) for customers on its naked DSL service also recorded a slight increase from AUD50.9 for the 2008 fiscal year to AUD53.7. The operator has attributed the strong growth to the continued growth in subscribers to its naked DSL services, which it launched in December 2007, alongside the successful integration of Perth-based ISP Westnet, which it acquired in May 2008.
iiNet reported that on-net broadband customers rose 13.6% y-o-y to 196,000 as a result of the continued success of its naked DSL product. The operator’s total broadband subscriber base climbed 14.4% to 400,200, while customers taking its VoIP service rose 25% to 100,100.