Amcom delivers strong earnings growth

21/08/2012 - 14:25

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Perth-based telecommunications company Amcom has lodged a 10 per cent jump in net profits for the year ended June 30, on the back of strong sales growth in its data networks and business services offerings.

Amcom today announced that revenue for financial year 2012 was up 56 per cent to $136 million, resulting in a 10 per cent lift in net profit to $28.4 million.

Excluding one-off items, underlying net profit was up 22 per cent to $16.8 million, Amcom said.

The company’s board of directors declared a final dividend of 3.2 cents per share, taking the total dividend to 5 cents per share, up from 4.8 cents the previous year.

Amcom chairman Tony Grist said the result was the 10th consecutive year of earnings growth in excess of 20 per cent.

“This financial year the strong profit result was also accompanied with an 82 per cent increase in free cash flow,” Mr Grist said in a statement.

"Over the past seven months, shareholder value has been enhanced by a 50 per cent increase in share price.”

Amcom chief executive Clive Stein flagged another strong performance in FY2013, tipping further growth in the data networks business and the cloud services market.

At close of trade today, Amcom stocks had lost 2.48 per cent, trading at $1.18.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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