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MyNetFone Sales Zoom 45%

Rene Sugo’s ASX-listed smartphone company MyNetFone – better known perhaps as MNF – has reported sales up a cool 45 percent in its latest half-year, reaching $55.7 million.

Actual phone numbers jumped 24 percent to 5.1 million, or something close to one in five of the entire Aussie population. That was up from 4.9 million in the same period of last year.

The company operates via domestic wholesale, direct, and global wholesale segments.  Its shares closed at $5.50 on the ASX, up from the previous day’s close of $4.92pc.

Company founder and CEO Rene Sugo (pictured) is said to have total compensation of A$377,420.

He is now looking to take the company into the Asian market, initially in Singapore, where he hopes to sign three “major global customers”. However in a statement yesterday, Sugo noted that the current global reduction in international travel continues to impact MNF’s business while small-business spending remains “subdued”.

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