25/02/2008 - 15:45

iiNet reports strong growth in earnings

25/02/2008 - 15:45

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Internet services and telecommunications company iiNet Ltd has reported strong growth in profit for the half year to December 2007, driven by improved margins and lower costs.

Internet services and telecommunications company iiNet Ltd has reported strong growth in profit for the half year to December 2007, driven by improved margins and lower costs.

iiNet reported a 34.6 per cent increase in net profit after tax to $9.6 million.

The group said its underlying net profit, which was adjusted this year to exclude $2 million in 'other' revenue from resolution of a stamp duty dispute, rose by 4.5 times to $7.6 million.

Total revenue rose by a modest three per cent to $117.1 million.

iiNet said the main contributors to its higher profit were its on-net and fixed line products.

The group increased its interim dividend to three cents per share, up from one cent pr share.

 

 

 

 

 

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