M2 expands NBN reach

M2 Telecommunications revenue has jumped 73 per cent to $681 million, while net profit rose 33 per cent to $44.1 million for the full year ending 30 June, 2013.

During the financial year, M2 deployed 23 points of interconnect (POIs) for the National Broadband Network (NBN) -- POIs allow NBN Co to hand over traffic from its network to the networks of wholesale and retail service providers. The NBN will eventually have 121 POIs around Australia

M2 said by the end of the 2014 financial year it will have connected another 27 POIs and expand the company's NBN reach across Australia.

M2 now has 350,000 broadband customers; 201,000 mobile customers and 325,000 voice customers.

It made two acquisitions during the 2013 financial year, including a 100 per cent share in Eftel for $38.5 million and the acquisition of Dodo Australia for $203.9 million in May 2013.

M2 also recently announced it would invest $2 million in Inabox Group, a wholesale telco service operator, for a 12 per cent stake in the company.

Copyright © 2013 IDG Communications, Inc.

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