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engin predicts further growth in FY11

engin predicts further growth in FY11

VoIP provider engin Limited (ASX:ENG) is expecting continued growth in FY11, and plans to achieve this through cost control and subscriber growth.

In a letter to shareholders in the company's annual report, engin CEO Charles Solomon said the company “will continue to focus on delivering profitable growth through services in operation, cost control and ongoing delivery of value to its customers.”

Chairman Ian Smith added that ongoing changes within the Australian telecom industry will provide “both challenges and opportunities for engin.”

The company reported a loss of $2.4 million in FY10, compared to a $6.8 million loss in FY09. Revenue grew to $20.9 million from $20.2 million over the same period, and the company reported its first ever operating profit of $700,000.

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