Home > Communication > Netcomm Back In The Black: Half-Year Profit Hits $3.7 million

Netcomm Back In The Black: Half-Year Profit Hits $3.7 million

ASX-listed Netcomm Wireless has posted record revenue for the six months to December 31. Total revenue for the period was up 89pc at $88.6 million.

Better still, for shareholders, the company posted a net profit after tax of $3.7 million – a major turnaround from the $1.7 million loss recorded in the same half a year earlier.

Revenue from Netcomm’s machine-to-machine business, now responsible for 85pc of group revenue, was up 107pc at $75.1 million. Meanwhile revenue from the company’s traditional broadband technology business rose 27pc.

CEO Ken Sheridan said the company is continuing to roll out tech for the Ericsson/ NBN Co fixed-wireless contract and plans to launch equipment for a new 100Mbps service before the end of this year.

You may also like
ASIC To Investigate ASX Crash
Tyro Doubles Loss In FY20, Blames Coronavirus, Bushfires
NAB: ‘9.5% Drop In Consumer Confidence An Overreaction’
Aussie Dollar Hits Four-Month High
Will Oz Consumer Confidence Continue To Recover? Up 1% Last Week