Menu
M2 acquisition of Primus pays off

M2 acquisition of Primus pays off

Revenue at M2 increased 65 per cent to $305.2 million for the half year.

M2 Communications’ (ASX:MTU) net profit after tax has jumped 47 per cent to $24.7 million, driven by its Primus acquisition contributing strongly to revenue and earnings, the company reported today in its half-year results.

The company acquired Primus in June 2012 for $192.4 million.

“Following the acquisition of Primus in June 2012, our team has worked tirelessly on integration and to deliver synergies which will positively impact our earnings in the second half of this financial year,” Geoff Horth, M2 CEO, said in a statement to the ASX.

M2 said the Primus acquisition has increased M2’s capabilities in the National Broadband Network (NBN), cloud, IP voice and hosted voice.

Revenue at M2 increased 65 per cent to $305.2 million for the half year.

M2 Communications confirmed its full-year results are on track for a 38 per cent increase in net profit after tax to $43-48 million. Revenue is expected to increase 60 per cent to $610-650 million.

Follow Stephanie McDonald on Twitter: @stephmcdonald0

Follow Computerworld Australia on Twitter: @ComputerworldAU


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags m2 telecommunicationsprimusNational Broadband Network (NBN)

Brand Post

Featured

Slideshows

Reseller News Platinum Club celebrates leading partners in 2019

Reseller News Platinum Club celebrates leading partners in 2019

The leading players of the New Zealand channel came together to celebrate a year of achievement at the annual Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months.

Reseller News Platinum Club celebrates leading partners in 2019
Reseller News hosts alumnae breakfast for Women in ICT Awards

Reseller News hosts alumnae breakfast for Women in ICT Awards

Reseller News hosted its second annual alumnae breakfast for the Women in ICT Awards in New Zealand, designed to showcase the leading female leaders in the industry. Held at The Cordis in Auckland, attendees came together to hear inspiring keynotes and panel discussions, alongside high-level networking among peers. Photos by Gino Demeer.

Reseller News hosts alumnae breakfast for Women in ICT Awards
Reseller News Innovation Awards 2019: meet the winners

Reseller News Innovation Awards 2019: meet the winners

Reseller News honoured the standout players of the New Zealand channel in front of more than 480 technology leaders in Auckland on 23 October, recognising the achievements of top partners, emerging entrants and innovative start-ups.

Reseller News Innovation Awards 2019: meet the winners
Show Comments