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WA’s biggest ISP profits

WA’s biggest ISP profits



WA’S largest Internet Service Provider, iiNet, has announced a net profit after tax of $1.93 million for the 1999-2000 financial year, up 30 per cent from the previous year. This result was bolstered by strong operating cashflow of $6.4 million plus cash reserves of $5.3 million as at June 30, 2000. Since the beginning of the financial year, the company achieved organic growth of 40 per cent and acquired eight smaller WA-based ISPs. The acquisition program was slower than expected due to vendors seeking unrealistic prices.



Nexus commended



THE unsuccessful Nexus proposal for Perth’s Convention and Exhibition Centre has won a special commendation from the American Institute of Architects. Nexus proposed building the PCEC between Wellington and Roe streets. It made it through to the final stage but was beaten by the Multiplex proposal. The Nexus proposal beat 200 other entrants in the Unbuilt Work category.



Anaconda closes deal



IN A corporate move to boost Anaconda’s three nickel province strategy, Anaconda Nickel Limited has purchased 6.3 million shares at $1.35 per share in Centaur Mining & Exploration Limited. Anaconda concluded this deal with Centaur chairman Joseph Gutnick, who has agreed to procure the sale of a further 1.57 million shares at that price. The total tranche represents 14.99 per cent of Centaur.



Monadelphous result



WA-BASED resource sector engineering company the Monadelphous Group has recorded a net profit of $5.8 million for the 1999-2000 year.

It recorded revenue of $159.7 million for the year, down 2.9 per cent on the previous fiscal.

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