Macquarie Telecom (ASX:MAQ) has upgraded its FY10 earnings guidance, revealing it is now expecting a 22% increase in ebitda to around $28 million.
The company said it held a strong balance sheet, with cash and cash equivalents of $56.3 million as of the end of the financial year.
And the company plans to invest some of that to nurture its development, according to CEO David Tudehope. “Over the next fiscal year we intend to invest approximately an additional $15 million over our current capex run rate to expand our Hosting facility to support growth,” he said.
Macquarie Telecom plans to release its full year results on August 26.