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iiNet Adds 25,000 Broadband Users – Lifts Profit Just 1pc

iiNet Adds 25,000 Broadband Users - Lifts Profit Just 1pc

Revenue for the half grew 11 percent to $547 million.

The company said it had added 25,000 new fixed-line broadband customers over the six months. It also reported 50,000 net customer additions over the last 12 months, to 975,000. It currently has 60,000 NBN and fibre customers.

Net operating cashflow was down to $58 million, impacted by increased inventory for new mobile products launched late in the half, as well as the acquisition of Tech2 Group.

IiNet CEO David Buckingham said acquisition of Tech2 Group has provided iiNet with increased capability in home and NBN installation services.