Tuesday, 25 August 2015 12:36

MyNetFone comes in with record profits

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Integrated telecommunications software and network provider, MyNetFone, has recorded record profits for the 2015 full year to the end of June, with net profit rising to $7.2 million, a 24% increase on the previous year.

MyNetFone CEO, Rene Sugo said profit growth was largely attributable to organic growth within the MNF business and a contribution from the recently acquired multi-national voice business, Telecom New Zealand International (TNZI).  

“Whilst TNZI generated profit during the first few months that we owned it, that was largely offset by acquisition costs and non-recurring integration expenses.

“The company is at a very exciting point in its journey, delivering yet another strong result on the back of robust organic growth, and enormous potential in the global TNZI voice business.”

Sugo said the network expansion program at TNZI has commenced, facilitated by recently raised funds. “We have already invested in expanding our capacity in the UK, Hong Kong and Singapore, with those projects set for completion during the next quarter, after which we will progress on to expanding capability in other territories.”

Sugo says MyNetFone will “continue to actively search for and examine” further acquisition opportunities, while remaining “totally committed to driving growth and performance within the business”.

And, he says MyNetFone is confident it will achieve strong organic growth in the coming year and well into the future.

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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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