iiNet looks to emerge leading Australian telco
17 Aug 2010
Following some recent takeovers, iiNet Ltd has declared itself as the leading challenger in the Australian telecoms market, and increased its full-year profit 34 per cent.
According to iiNet it has overtaken Optus to emerge the second largest DSL provider in Australia although iiNet's fixed-line customer numbers are way below Optus.
The company has, however, maintained a steady churning of customers, that is porting of services from competitors to its own network and the figures show the numbers would remain steady.
The company's shares gained 3 per cent following the announcement that its net profit rose to $34.55 million for the 12 months to 30 June, from $25.63 million in the prior corresponding period.
Meanwhile, revenue rose 13 per cent to $473.8 million.
According to chief executive Michael Malone it was an excellent set of results and the company was looking to emerge as a major player in a telecoms industry undergoing a consolidation phase.
iiNet has expanded its customer base so that it now stands second in Australia for the number of DSL internet users, and third for fixed line users, after Telstra Corporation Ltd and Optus.
According to Malone, with the recent takeovers of Netspace and AAPT's consumer division, iiNet was close to achieving a 15 per cent market share in the DSL internet market.
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