The Government has offered Australia's three mobile operators, and vividwireless, renewal of their existing spectrum allocated on 15 year licences in the late 90s and early 2000s at set prices, while the Government expects to rake in $3 billion.
Amcom Telecommunications (ASX: AMM) has reported a 38 percent increase in net profit after tax to $6.1m for the six months ended 31 December 2008, prior to one-off costs associated with a buyback of shares from its one-time majority shareholder Futuris.
Revenues were up 15 percent to $25.0m and EBITDA up 35 percent to $8.5m. NPAT excluding the one-off buyback cost was up 48 percent to $3.5m. Buyback and subsequent sell down of Futuris' 50.1 percent stake during the half year cost Amcom $1.5m after tax. Amcom's fibre division increased EBIT 35 percent to $5.8m while its Amnet Division increased EBIT 57 percent to $1.3m. The group benefited from its 22 percent stake in iiNet Ltd with an equity accounted contribution of $2.6m versus $2.0m previously.
CEO Clive Stein said: "The key driver behind this improvement is the continuing growth of our fibre division revenues combined with our relatively flat cost base. With $5.5m of new annualised sales in the first six months of this year, we are well placed to continue our revenue growth and margin improvement into the second half," he said.
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