iiNet Hits $1bn Revenue, 40K NBN Customers
The Perth based ISP added 40,000 new broadband customers in the year and returned to organic growth in FY14, it announced today.
iiNet sales also topped $1 billion – up 7% – a record result as business customer revenues soar to $204 million.
iiNet CEO, David Buckingham, said the ISP had delivered on its strategy of growing market share and improving margins. He was appointed to the role last month after founder and CEO Michael Malone stepped down.
The ISP now 950,000 customers and low churn rate, thanks to better customer service, product innovation, and clever brand marketing, he said.
“Over the past year we reached our all-time high net promoter score of 60%, added 40,000 net new broadband customers and continued to grow our business customer revenues to $204 million, now 20% of total group revenues.”
Earnings growing faster than revenues with EBITDA up 9% to $196 million.
iiNet is taking a “proactive” approach to the NBN roll out continues to pay dividends. It has over 20% share of the NBN market with over 40,000 customers, half of whom are new to the ISP.
“We continue to take full advantage of our capabilities across allaccess technologies and expect iiNet’s NBN subscriber base to continue to grow as the roll-outspeeds up”, Buckingham added.
FY14 total dividend rose 16% to 22 cents per share fully franked.