Amcom profits continue momentum

20/02/2012 - 11:11
Amcom profits continue momentum

Perth-based Amcom Telecommunications has reported a 20 per cent lift in interim operational net profit, on the back of a strong performance from its fibre-based communications services business.

Amcom today announced a 35 per cent spike in revenue to $55 million, taking its net profit to $8.4 million for the six months to December 31.

The company lodged a $6.9 milion profit in the previous corresponding half year.

Over the period, Amcom distributed its stake in iiNet to shareholders, adding $18.6 million to its bottom line and taking its total reported profit to $26.5 million.

Amcom chief executive Clive Stein said the result reflected the company’s strong organic growth over the half year.

“It is also a reflection of the underlying quality of our customer relationships as well as our continuing investment in the future development of the Amcom business,” Mr Stein said.

“Over the last six months, we have continued our transformational journey to become one of Australia’s leading integrated telecom and convergent IT solutions providers to corporate, government and wholesale customers.

“Amcom’s recent acquisition of L7 Solutions accelerates our growth into IT solutions, including the emerging cloud services market.”

Mr Stein said Amcom would maintain its earnings guidance of another year of double digit percentage growth over FY2011. 

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