By Craig Zammit
SYDNEY: Internet service provider, Unwired Group Limited, announced its financial results for the year ending 30 June 2007 with the company reporting a 38 per cent increase in revenue, 30 per cent increase in customers and 5 per cent drop in operating costs.
Other financial highlights for year ended 30 June 2007 compared to 2006 include operating revenue increase of 44 per cent to $33.8 million, EBITDA loss improved 74 per cent to -$4.2 million, net loss improved 26 per cent to -$25.2 million and an increase in customer numbers to 69,592.
“We are very pleased with these results and I thank the team that supports me. It demonstrates that we are managing this business well – containing costs despite increasing customer revenue and numbers,” said Unwired CEO, David Spence.
“The continued focus on costs and management of cash puts us in an excellent position for continued growth in an increasingly competitive environment.
“In the second half of the year we returned a positive EBITDA. This is a great financial trend. We have the right asset – large amounts of wireless spectrum in the Mobile WIMAX bands – and the skills and experience in product deployment and network management to deliver future-proof, mobile broadband to all Australians,” Spence said.
Unwired’s capital expenditure also decreased by 55 per cent to $4.8 million, compared to $10.7 million for the previous corresponding period.