Sydney, Aug 28, 2006 (ABN Newswire) - Unwired's (ASX: UNW) CEO David Spence reports on the company results and outlook via an audio briefing for the financial period ending 30th June 2006.
For the full year to June 30 2006, Unwired reports a 104% increase in operating revenue while normal operating expenses were up by 1%. The Ebitda improved 41% to AU$16.7 Million and the company posted a net loss of AU$33 Million.
This was a 20% improvement for the corresponding period last year, showing the company has doubled its customer revenue while still containing costs.
Customer numbers were up 90% to over 53000 with the customer channels split 64% retail, 29% direct channel and 7% wholesale services.
The churn rate for the period was 3% due to increase in competition, particularly in the most recent six months. The company has implemented measures to address the customer rollover by refining call centre operations and the development of a network tool to optimise network operations.
The company held a cash balance or AU$15.9 Million at the end of June which it says will maintain a robust business in both Sydney and Melbourne.
Since the February half year announcements, Unwired has launched the Melbourne sector to be completed in September this year, which will cover approximately 35% of Melbourne homes. The company partnered with Google and introduced revenue sharing localised search on the customer home page of the Unwired website.
Additional alliances during the period include location based services in partnership with Fairfax (ASX: FXJ) and an alliance with AuStar (ASX: AUN) to rollout new broadband services including mobile WiMax services by 2007.
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