SP Telemedia reports record profit

Stuart Corner
Wednesday, 21 September 2005 16:27

IT Industry - Deals

SP Telemedia has announced a record net profit after tax - up 99 percent before goodwill to $19.2 million and up 71 percent to $16.5 million after goodwill.

It says that "Significant corporate developments over the past year have changed the [company's] structure and business...resulting in a record profit and doubling of dividend payout for the year to July 31, 2005.

Consolidated revenue under management was $264.9 million compared with $88.4 million a year ago. According to chairman, Robert Millner, "This year we have been focused on integrating and rationalising the components of our business and next year we will start to see the benefits of our investment strategy flow through and each new company making full year contributions,"

The company claims to be "Australia's only converged service provider across voice, video and data". It has three operating divisions - media, telecommunications infrastructure and retail telecommunications.

In 2004, SPT acquired the country's highest rating television station, NBN, and transactions in 2005 gave it the largest independent IP based voice network, after absorbing the Comindico business, and an expanded retail base after an alliance with B Digital, now 42.9 percent owned by SPT.