iiNet corners 25% of the NBN market
- 20 February, 2014 10:51
iiNet had a quarter of the National Broadband Network market in the six months to December, according to the Internet service provider's half-year results presentation today.
"We are leading the pack in our proactive approach to NBN and currently have a 25% share of the NBN market as we continue to take full advantage of our capabilities across all access technologies," acting CEO David Buckingham said in a statement.
The ISP has more than 30,000 customers on the NBN. Last year in its full year results reporting the company revealed that it had more than 20,000 customers on the NBN.
"While still small in the context of iiNet's total subscriber base, we expect the NBN subscriber base to continue to grow as the roll out continues," Buckingham said.
iiNet increased its number of broadband customers by 16,000 in the six month period, taking its total customers to 926,000.
iiNet's chief regulatory officer, Steve Dalby, recently condemned the "public-policy vacuum" in which strategic review into the NBN and public debate about the network were taking place.
The ISP reported revenue for the half-year was up 4 per cent to $493 million and underlying net profit after tax was up 19 per cent to $31 million.
The period included four months of revenue from Adam Internet included, Buckingham said. iiNet completed the acquisition of the independent South Australian ISP in August.
"We have integrated the networks of TransACT and Internode, and the Adam Internet network integration is on track for this quarter," Buckingham said.
The half year included the $9 million sale to NBN Co of TransACT's fibre-to-the-premises network in the ACT. iiNet acquired TransACT in 2011.