More profit in the Pipe Networks line

Stuart Corner
Monday, 06 November 2006 05:23

IT Industry - Deals

Pipe Networks (ASX: PWK) has upped its profit forecast for the financial year ending June 2007 to $5.0 million which would be an 80 percent increase on 2006.

The company told the ASX that, "after reviewing management reports and taking into consideration the expected impact of new services, the impact of existing contract timing and the expansion of the national sales teams," it was forecasting a net profit after tax (NPAT) of between $4.7 - $5.0 million, a 68 percent to 79 percent increase on the previous financial year and is higher than previously forecast.

The company says it is experiencing rapid growth in its dark fibre service, driven by the up-take of next generation services by ISPs, large corporate organisations and all levels of government.