ASX-listed voice-over-IP phone and Internet services, MyNetFone Limited (ASX:MNF) has appointed Matthew Gepp as its first dedicated CFO, following rapid growth across the business.
Gepp is a chartered accountant with more than 15 years’ experience in corporate sector senior finance and strategy roles, and has held CFO positions across Australian and UK listed companies. He was most recently CFO of rival VoIP provider, Engin Limited, a Seven Group Holdings subsidiary.
Gepp has been working with the business for the last four months assisting the finance team and becomes CFO effective immediately. MyNetFone CEO, Rene Sugo, said Gepp’s experience in the communications industry was a major factor in his appointment.
“Mr Gepp is extremely knowledgeable and passionate about the communications industry and brings with him a wealth of experience and expertise which I believe will be a huge asset to the company as we continue to grow our business well into the future,” Sugo said.
Gepp takes over the financial reins from former CFO and company secretary, Catherine Ly, who has juggled both roles since the company listed in 2006. She remains on-board as company secretary and treasurer. Sugo said rapid expansion meant it was time to appoint someone full-time to the CFO position.
According to its recent financial report, MyNetFone posted a 38 per cent rise in pre-tax earnings to a record $6.1 million off revenues of $46.2m for the year to 30 June 2013. It also chalked up a net profit (NPAT) of $4.1m, up 35 per cent year-on-year.
Growth was attributed to both organic growth and its acquisition strategy. Acquisitions in the past year included competitor, Go Talk, for $1.4m and Victorian ISP, Connexus for $4.75m.
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