MyNetFone shows healthy organic growth

MyNetFone (ASX:MNF) has rounded out a solid financial year, reporting net profits of $1.97 million and revenues of $12.1 million.

The results were attributed to organic growth in the company’s VoIP, broadband and internet offerings.

They also follow on from strong results posted for the half year ended 31 December 2009, that were driven by similar trends.

In its statement to the ASX, the company highlighted the national broadband network (NBN) as offering a “quantum leap of opportunity”.

“The roll-out of optical fibre at customer access level will make broadband service more ubiquitous resulting in even higher broadband penetration while VoIP is the only means of delivering voice service in an all optical fibre infrastructure,” it said.

Further, the company expects to continue growth particularly in the SME and SOHO markets with virtual (hosted) PBX and SIP trunking services.

MyNetFone has 83,000 subscribers, which is up 12.2 per cent over the previous financial year.

Copyright © 2010 IDG Communications, Inc.

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