Anittel Announces Strong Half-Year Results

Anittel Announces Strong Half-Year Results

On Tuesday, Feb. 28 Anittel Group (ASX: AYG), half-year earnings report and showed that it is headed in the right direction. The company experienced revenues of $31.4 million through 31 December 2011.

This comes after the company incurred a $19.9 million net loss for FY11.

The telecom and IT services provider's loss from its ordinary activities after tax declined 93.8 per cent to $841,000 while earnings before interest, tax depreciation and amortisation (EBITDA) rose to $152,000.

This number represents the company’s first positive EBITDA result after its December 31, 2010 loss of $938,000 in 31 December 2010.

Other positive during this earnings period included $9.7 million in recurring revenue, a 10 percent increase, with $3.6 million total cash in the bank, representing a $1 million rise from 30 June 2011.

Operating costs declined to $11.3 million, a decrease from $12.5 million in the previous period.

In a statement by Anittel managing director Peter Kazacos, he said, “In the full year results for 2011, we expected a small growth in revenue in full year 2012 and a positive EBITDA outcome. In terms of revenue, this expectation remains. At an EBITDA level, the company expects to achieve a result in excess of $500,000.”

Kazacos also highlighted that during the last six months through 31 December, the company also ushered in a new board and executive management team, moved ahead in consolidating its systems and reported an increase in customer satisfaction.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags AnittelASX:AYGhalf-year earnings

Show Comments