M2 acquisition of Primus pays off
- 25 February, 2013 09:37
M2 Communications’ (ASX:MTU) net profit after tax has jumped 47 per cent to $24.7 million, driven by its Primus acquisition contributing strongly to revenue and earnings, the company reported today in its half-year results.
The company acquired Primus in June 2012 for $192.4 million.
“Following the acquisition of Primus in June 2012, our team has worked tirelessly on integration and to deliver synergies which will positively impact our earnings in the second half of this financial year,” Geoff Horth, M2 CEO, said in a statement to the ASX.
Revenue at M2 increased 65 per cent to $305.2 million for the half year.
M2 Communications confirmed its full-year results are on track for a 38 per cent increase in net profit after tax to $43-48 million. Revenue is expected to increase 60 per cent to $610-650 million.
Follow Stephanie McDonald on Twitter: @stephmcdonald0
Follow Computerworld Australia on Twitter: @ComputerworldAU
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.
- OAIC releases privacy impact assessment guide for consultation
- Some Australian businesses 'unlikely' to be ready for Privacy Act changes: survey
- BYOA 'shadow IT' grows in the enterprise: Telsyte
- Cost of a Privacy Act breach could extend to ongoing audits: legal expert
- How Hunter Water is saving $50k a year in software licences
Trust issue looms large for tech companies capitalizing on personal data
5 women who've made it in IT
Five trends affecting legal CIOs
CIO Roundtable: The changing face of security
Bitcoin malware count soars as cryptocurrency value climbs
Forrester Report: Close The Gaps Left by Traditional Vulnerability Management Through Continuous Monitoring
This report assesses the current state and effectiveness of vulnerability management.
Leading insurance provider’s desktop virtualization deployment
QBE insurance group met the challenge of swiftly deploying a desktop virtualization solution, after practically outsourcing its entire IT department overnight. Read their story to learn how to allow users a comfortable desktop while ensuring that IT can maintain control.
Finding Common Ground for Collaboration in Virtual Organisations
Whilst offices are still one of our most powerful collaboration tools available, global collaboration requires us to communicate wherever we happen to be using a host of other tools. In this whitepaper, we look at the future of business collaboration technologies and strategic orientation that leads to best practice.