MNF ‘buying more network assets’ for Asia-Pacific expansion
17 August 2017 | Alan Burkitt-Gray
Australian operator MNF is planning to grow its global wholesale business across the Asia-Pacific, the company has announced.
MNF – formerly MyNetFone – said in its annual results statement that growth by geographical is one of its priorities “as the company invests in additional network assets in new countries throughout the Asia-Pacific region”.
The company said it had “an excellent profit result for the full year ending 30 June 2017”, with EBITDA up 34% on last year to A$23.9 million (US 18.9 million) on revenue of A$191.8 million (US $151.9 million).
“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.” said CEO Rene Sugo.
He added: “The domestic wholesale segment continues its ongoing strong growth with its gross profit contribution up a very solid 24% on last year. We are also very pleased with the global wholesale segment which achieved solid growth of 15% driven from the uptake of new generation services.”
In addition to Asia-Pacific expansion for global wholesale, MNF plans another three expansion sectors: enhancing software capabilities, customer acquisition and customer expansion – the last of these from existing wholesale customers growing their own user base. “These customers continue to acquire incremental capabilities from our company,” said MNF.
Sugo said the integration of Conference Call International (CCI), following its acquisition earlier in 2017, was “going to plan with the network integration largely completed, ensuring a full year of synergies in FY18”.
The company said all major project milestones for the year had been achieved, including staff integration, finance integration, network integration and number porting to MNF’s network. “The CCI business is itself performing well, meeting all pre-acquisition expectations for the first five months,” said the company.
4h | Jason McGee-Abe
4h | Alan Burkitt-Gray
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5h | James Pearce