ITWire

MyNetFone's 2012 results for 2011-12 included a net profit of $3.1 million (up from $1.0 million) from revenue of $38.3 million (up 181% from the 2010-11 figure of $13.6 million).

Company officials attributed the success to "solid growth in high margin retail and wholesale hosted voice services."

If those services are being supplied at high margins, it brings into question how much longer traditional carriers will be able to justify time-based charging for calls to landlines when VoIP carriers like MyNetFone can charge a flat rate for such calls regardless of distance and still make healthy profits.

Officials also noted the shift from being a pure VoIP provider to residential customers to bundling voice and data, which is being assisted by the rollout of the NBN.

MyNetFone is also developing new offers and products.

Other highlights included the company's project with the Tasmanian Government for voice carriage, and the successful acquisition of the Symbio Group (an associated wholesale company that was already Australia's largest VoIP carrier).

And it's good to see a company proud to pay income tax - MyNetFone officials noted that the company expects to remain profitable and has made provision for almost $1 million tax in respect of the 2012 tax year.