Australian carrier Vocus has reported recurring revenue increased by 2% to AU$896 million while underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) remained steady, hovering around AU$192 million, which the company credited to “disciplined overhead reductions”. Underlying net profit after tax was AU$45.4 million, which was a 11% year-on-year dip. Broken down by division, Vocus Network Services (VNS) chipped in AU$340.2 million of the carrier’s overall revenue, which was an 11% improvement from its performance in the year prior. This was primarily comprised of revenue from data networks, which accounted for 63% of VNS’ recurring revenues and 77% of its gross margin. VNS’ EBITDA also increased by 8%, driven by higher margin data network revenues despite its large infrastructure revenue dropping from AU$25.5 million to only AU$1.4 million. Vocus’ New Zealand arm also delivered growth in the half, with both revenue and EBITDA up by around 5%. The addition of Stuff Fibre helped its consumer and business division grow by 11%, with underlying EBITDA growing by 5% largely driven by growth in Ultra-Fast Broadband and the bundling of energy services. Vocus Retail, however, continued to see its overall revenue decline. During the half, overall revenue dropped by 6% to… Read full this story
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