M2 Telecommunications Group Limited ASX: MTU - FY2007 AGM Briefing - Mr Vaughan Bowen, MD
Sydney, Oct 10, 2007 (ABN Newswire) - M2 Telecommunications Group Limited (ASX: MTU) - FY2007 AGM Briefing - Mr Vaughan Bowen, MD; M2 Telecommunications Group Limited (ASX: MTU) present the following audio webcast regarding "FY2007 AGM Briefing". You may also download this audio webcast to your computer or portable audio player.
Broadcaster: M2 Telecommunications Group Limited (ASX: MTU)
Broadcast Title: FY2007 AGM Briefing
Broadcast Type: Audio stream
Audio webcast Link:
Listen to the Audio stream and view the announcement for M2 Telecommunications Group Limited (ASX: MTU) below.
http://abnnewswire.net/vlnk/W2RK1337
There are many highlights from the year that was; outcomes of greatest significance being :
- Earnings Before Interest and Tax (EBIT) of $3.23M, as compared with $2.8M in the previous year, representing an EBIT increase of 13%.
- Net Profit After Tax (NPAT) increased by 10% from the previous year to a new record high of $2.41M.
- Revenues of $43.79M, as compared with $33.49M last year, an increase of 31%.
- Cash flow and cash assets continued to remain strong, with the company's balance sheet free of debt.
- Revenue and earnings results were in accordance with the market guidance presented at the beginning of the 2006/7 financial year.
- Declaration of fully franked dividends for both the half and full year, both in excess of 70% of NPAT.
- Further expansion of the suite of products and services, both in Australia and New Zealand.
- Establishment of a foundation mobile network wholesaling alliance with Vodafone in New Zealand.
- Three year extension of M2's appointment as the exclusively endorsed wholesale enabler of the Optus third generation (aka "3G") mobile network.
- M2's wholesale division significantly enlarged through strong organic growth and acquisition of Australia's largest independent data wholesaling company, Wholesale Communications Group, in May 2007.
- Purchase of all customers and business assets of Melbourne based business telco, Tenex Communications in June 2007.
- Entry into a Merger implementation Agreement for M2 to acquire ASX listed Orion Telecommunications in June 2007.
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About M2 TELECOMMUNICATIONS GROUP LIMITED
Established in 1999, M2 Telecommunications Group Limited (ASX: MTU) is a network independent provider of fixed-line, mobile and data telecommunications services Australia wide and in New Zealand. M2 is head-quartered in Melbourne and employs approximately 160 people nationwide.
Within its "M2 Telecom" business division, M2 offers a suite of unique bundled telecommunications services and value added offerings targeted principally at the small enterprise market, distributed through an exclusive trans-Tasman network of sales dealerships, agencies and through targeted on-line marketing ventures (www.simplymobiles.com.au and www.greenmobiles.com.au). M2 Telecom also incorporates Southern Cross Telco, an established retail and small enterprise targeted telco, acquired by M2 in October 2007.
"M2 Wholesale" is the other core business division of M2, in which wholesale telecommunications services are supplied to small and medium sized telecommunications service providers and Internet Service Providers (ISP's). M2 Wholesale was launched in mid 2006 following M2's appointment by Optus as its exclusively endorsed aggregator/enabler of Optus mobile services. As a further boost to its wholesale operations, in May 2007 M2 completed the purchase of Australia's largest independent data wholesaling business, Wholesale Communications Group Pty Ltd (WCG).
With the announcement in February 4 2008 of M2 Wholesale's acquisition of Commander Communication's established wholesale network services company, Unitel Australia Pty Ltd, M2's consolidated revenues now exceed $140 million (annualised), approximately evenly shared between M2 Telecom and M2 Wholesale.
