Nedlands-based mobile phone company Commoditel Ltd has announced a positive cashflow from its recent acquisition of a mobile post-paid customer base from Vodafone Australia.
Nedlands-based mobile phone company Commoditel Ltd has announced a positive cashflow from its recent acquisition of a mobile post-paid customer base from Vodafone Australia.
Nedlands-based mobile phone company Commoditel Ltd has announced a positive cashflow from its recent acquisition of a mobile post-paid customer base from Vodafone Australia.
The full text of a company announcement is pasted below
Australian mobile phone company Commoditel Ltd is pleased to confirm the successful integration of its recent acquisition of a mobile post-paid customer base from Vodafone.
The integration of the new customers has resulted in unaudited positive EBIT and cash flow from ordinary operating activities for the month of November.
Managing Director Mr David Sweet said that the Board was pleased that the acquisition had lead to an immediate increase in monthly revenue and profit. Further details will be released in the 2006 end of year results in the 1st Quarter of 2007.
"In the past few months, we have focused on establishing a significant foothold in the pre and post-paid mobile phone market in Australia which gives us efficiencies of scale. In addition, we have commenced an aggressive sales and marketing campaign to re-sign portions of the existing customer base that had come out of contract," Mr Sweet said.
As one of the few independent mobile phone companies in Australia offering both pre and post-paid customers, Mr Sweet said Commoditel was well placed to take advantage of future readjustment and consolidation in the industry.
Commoditel markets its competitive call rate mobile phone products through its wholly-owned brands Just and Revolution, which are sold to consumers through traditional mobile outlets, the internet, and one of Australia's biggest retail mobile phone distributors, Brightpoint Australia.
Mr Sweet said that further changes were anticipated in Australia's mobile phone industry and with positive cashflow, a robust customer base, excellent management and, most recently, improved bargaining power on wholesale call rates, he expected Commoditel to continue to grow.
"We've demonstrated to the industry in recent months that we have the capacity, both financial and operational, to compete and grow.
"Mobile phone use in Australia continues to increase and Commoditel is poised to capitalise on this growth," Mr Sweet said.