Telecom company BigAir (ASX:BGL) has recorded a 51% increase in FY10 net profit as a result of strong fixed wireless broadband subscriber growth.
The company posted profit of $1.5 million. Fixed wireless revenue grew 49% to $7.5 million, while ebitda grew 50% to $3.2 million.
“This excellent set of results was achieved primarily through ongoing investment in BigAir's fixed wireless broadband networks and the expansion of our wholesale partner program,” BigAir CEO Jason Ashton said.
The company has no debt and $2.1 million cash in hand, he added.
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