Vocus posts 92 per cent revenue hike

Recent data centre acquisitions and the deal with Vodafone NZ has produced positive results for the wholesale telco

Vocus Communications’ (ASX:VOC) recently acquired data centres and contract win with Vodafone NZ has resulted in a 92 per cent growth in revenue for the company to $13.9 million for the half year to 31 December 2010.

In a statement to the ASX, Vocus chief executive, James Spenceley, said he was pleased with the company’s latest results, noting earnings before interest, tax depreciation and amortisation (EBITDA) was also up to $6.4 million, 35 per cent higher than its first half FY10 EBITDA of $4.7 million.

Net profits after tax grew 54 per cent from $2.4 million in the first half to $3.7 million in the period to 31 December.

In November, the company forecasted “buoyed” earnings for the six-month period, predicting the E3 deal would add at least $1.5 million in pre-tax profit to the company's annual bottom line.

The wholesale telco opened data centres in Sydney and Melbourne late last year which it inherited as part of its $5.9 million acquisition of the company.

In addition, Vocus’ $8.99 million deal with Vodafone NZ to supply all of its international data capacity on a multi-year term, once the NZ telco’s current supply contracts finish was also flagged to lift revenues.

“The company’s financial and operational results will enable Vocus to continue to focus on organic growth and explore further acquisition opportunities,” Spenceley said.

Follow Chloe Herrick on Twitter: @chloe_CW

Follow Computerworld Australia on Twitter: @ComputerworldAU

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