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Vocus forecasts $6m 1H ebitda

Vocus forecasts $6m 1H ebitda

Wholesale telecom operator Vocus Communications (ASX:VOC) has revealed it is expecting first half ebitda of between $6 million and $6.3 million.

The company, which made an ebitda of $8.1 million for the whole of FY10, said its earnings will be buoyed by the recent acquisition of the data centre business of E3 Networks.

When the acquisition was completed in mid-November, Vocus said the deal would add at least $1.5 million in pre-tax profit to the company's annual bottom line.

CEO James Spenceley said the projection was “a testament to Vocus' wholesale business model.”

Vocus added that it had decided, given the strength of the Australian dollar, to take a foreign exchange hedge for the remaining US dollar denominated liability associated with its international capacity.

Vocus provides wholesale data centre, voice, peering and international internet connectivity to telecom service providers in Australia, New Zealand and the US.

The company was acquired by First Opportunity Fund through a reverse takeover which closed in July.

VOC shares fell 2.04% in Monday's trading to finish the day at $1.440.

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Tags TelecommunicationsVocusJames SpenceleyGuidanceASX:VOC

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