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M2 (ASX:MTU) expects $15m profit for FY10

M2 (ASX:MTU) expects $15m profit for FY10

M2 Telecom (ASX:MTU) has revealed it expects an FY10 net profit of around $15 million in FY10, on revenue of between $380 million and $480 million.

M2 has also forecast its earnings for FY11, revealing it expects a 52% increase in NPAT to between $22 million and $23.5 million. Revenue is expected to grow 12% to between $425 million and $445 million.

These gains are expected despite depreciation costs associated with scheduled IT and system improvements, as well as a non-cash amortisation charge which should not affect profit of $3.2 million.

The company said it would publish its audited FY10 results on August 30.

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Tags GuidanceM2 Telecommunications Group LtdM2ASX:MTU

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