M2 forecasts 100% FY10 profit hike

M2 forecasts 100% FY10 profit hike

Business and wholesale telecom service provider M2 (ASX:MTU) expects a 100% increase in FY10 net profit to about $15 million.

At a presentation to investor, the company said it expects revenue in the range of $380 million to $400 million, a 90% mid-range increase on its 2009 revenue of $202.7 million.

M2 added that its acquisition of Clever Communications for $5 million, which closes on May 1, should contribute $2.3 million to ebitda in FY11.

Earnings per share is expected to increase 55% to 13.3-14.3 cents.

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Tags Telecommunicationsfinancial resultsM2forecast

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