Re-affirms Guidance and COVID-19
MNF advises that the company is currently experiencing strong demand for core products across its three operating segments - Global Wholesale, Domestic Wholesale and Direct. The key product in demand is Australian based phone numbers, which are used for collaboration and conferencing applications. MNF is also currently experiencing higher than normal usage volumes across all segments.
The company is working closely with key customers in Australia and overseas to prioritise requests for additional capacity, capabilities and resources.
At this time, the company reaffirms its stated FY2020 EBITDA guidance of $36.0 million to $39.0 million.
MNF acknowledges that the situation is evolving rapidly and currently there is strong demand for MNF's services, but the external environment remains uncertain.
As at 31 December 2019, MNF held $38.6 million of cash and had undrawn committed debt facilities available of $30.0 million.
The company has instigated its business continuity plans where all employees will be capable of working from home using MNF's own collaboration products and technology to operate the business remotely.
The company will update on any further trading and operational developments as they occur.
About MNF Group Ltd
MNF Group Limited (ASX:MNF) is one of Asia-Pacific's fastest growing technology companies. Listed on the ASX since 2006, it is now capitalised at around $350M, and twice winner of the Forbes Asia-Pacific "Best under a Billion" award. Headquartered in Sydney, Australia, the company has over 500 people located across Asia-Pacific, Europe and North America. MNF develops and operates a global communications network and software suite enabling some of the world's leading innovators to deliver new-generation communications solutions.
As the world moves to IP, MNF Group is building the brands, services, network and technology to lead the way.
For further information about MNF Group Limited please visit: http://mnfgroup.limited/
MNF Group Ltd