Thursday, 30 August 2018 11:56

Macquarie Telecom trumpets four years of profits Featured

David Tudehope, CEO & founder Macquarie Telecom David Tudehope, CEO & founder Macquarie Telecom

Macquarie Telecom says it has achieved four successive years of strong profit growth, with its results for the full-year 2018 revealing net profit after tax was up 20% to $17 million from a profit of $14.2 million for the previous year.

Its results released on Thursday showed the company's full-year 2018 revenue was up 6% to $233.1 million compared to $219.7 million for the previous corresponding period.

Company founder and chief executive David Tudehope said, “Macquarie’s profitable growth has enabled us to invest across our business units.

“Our confidence in the continued growth in demand for cloud underpins our decision to invest $75-80m in the Macquarie Park Data Centre Campus.”

Commenting on the results, Macquarie chairman Peter James said, “Consistent execution of our strategy has delivered four years of consecutive growth. We will continue to invest to benefit from the megatrends of cloud and cyber security.”

Macquarie (ASX:MAQ) also reported:

  • Earnings before interest, tax, depreciation, and amortisation (EBITDA) of $47.8 million for FY2018, an increase of $7.5 million or 19.0% on the previous corresponding period and in line with upgraded guidance.
  • Cash flow from Operating Activities of $42.9 million. The company is debt free and has a closing cash balance of $30.3 million as at 30 June.
  • Net profit after tax was up 20% to $17.0 million compared to a profit of $14.2 million for the previous corresponding period.
  • Capital expenditure for FY2018 was $33.8 million (FY17: $38.5 million) driven by growth Capex of $11.5m for: The Fortune 100 Customer; Government Cloud, Data Hall 4 fit out; SD WAN investment and Telecom NOC insourcing project. In addition, customer related Capex was $11.0m and maintenance Capex $11.3m.

Macquarie declared a final dividend of 25 cps, fully franked, which brings the full year dividend to 50 cps.

Macquarie says its focus in fiscal year 2019 is:

  • Focusing on customer experience to ensure a leading Net Promoter Score.
  • Leveraging the 42% of the Australian Government who have contracted with Macquarie Government, the Government team will be focused on growing revenue in both cyber security and Secure Cloud computing. Our Cloud computing offering is certified by the Australian Signals Directorate.
  • Telecom will continue to invest in new data networking technology (SD WAN) and will achieve a full-year benefit from the insourcing of the NOC in FY19.
  • Hosting has delivered Stage 2 of the Fortune 100 customer at Intellicentre 2, with full revenue earning capacity in FY19.

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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