Rapid Growth Continues
Sydney, Feb 16, 2016 AEST (ABN Newswire) - The Board of global voice specialist MNF Group Limited (
ASX:MNF) are very pleased to report another strong performance for the six months ended 31 December 2015. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 64% to $8.2 million, with net profit after tax (NPAT) increasing by 29% to $4.0 million, compared with the same period a year earlier. Revenue for the half increased 177% to $84.0 million.
The result produces a robust first half balance sheet with $10.9 million in cash and a reduction in the TNZI acquisition debt to $15.0 million, resulting in a net debt of $4.1 million. It should be noted that we have maintained our original $27.0 million facility, providing ready funds of approximately $12.0 million, for acquisitions or for compelling organic growth opportunities.
The large increases in revenue and net profit for the period versus the prior corresponding period are attributable to a combination of strong organic growth in the business, and a full half-year period from the TNZI global wholesale business.
TNZI Post-Acquisition Update
Much focus has been dedicated to the TNZI acquisition in the first six months of FY16. With the expansion of the UK Point of Presence (PoP) finalised, the TNZI network capacity and reach has been extended considerably in that region. New customer acquisition and provisioning is proceeding strongly as a direct result of our added capacity. Preparation is now well underway for deployment of a new PoP in Hong Kong with commissioning expected in May 2016. The opportunities in that region are numerous.
The MNF Group's USA based operating subsidiary (TNZI USA LLC) was granted its carrier license by the US FCC in December 2015, and as such the US portion of the TNZI acquisition is expected to be completed shortly. The company expects to commence upgrades of the USA PoP very soon.
Business Outlook and Guidance:
Historically MNF Group enjoys stronger performance in the 2nd half of the financial year when compared with the 1st half, and we expect this trend to continue, albeit slightly more balanced due to the addition of the TNZI business which enjoys more even monthly revenues.
The directors are of the opinion that the business is currently on track to meet our previously stated forecast EBITDA of $17.3 million and NPAT of $8.4 million for the full year ending 30 June 2016.
With a discerning and conservative approach, the Board of MNF Group will continue to actively search for further acquisition opportunities; whilst we remain totally committed to driving growth and performance within the business.
The MNF Group remains very confident that the company will achieve strong organic growth in the coming year and well into the future.
There will be a teleconference and results presentation held on Wednesday 17th February at 8:30am AEDT. For details please check:
http://mnfgroup.limited/investors
A recorded version of this presentation will be made available for later viewing at the same web address.
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MNF-906356.pdf
To view the Investor Presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MNF-906358.pdf
About Symbio Holdings Limited
Symbio Holdings Limited (ASX:SYM) is a software company changing the way the world communicates.
Symbio's technology replaces old-fashioned telecom networks with software, making it faster and easier to deliver modern cloud-based communication services, unlocking endless new applications for calling, messaging and phone numbers.
Symbio is the backbone for the global cloud communication industry. Over 500 service providers - from telecom start-ups to the world's biggest software companies - rely on Symbio for the connectivity, quality and expertise they need to solve complex communication challenges.
Headquartered in Sydney, Symbio powers billions of calls and messages each year, owns networks in three countries and employs over 450 staff worldwide.
For more information about Symbio visit www.symbio.global
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