And the results reveal EBITDA was up 52% to $16.9 million with MNF CEO Rene Sugo commenting that the group continued to see “very strong demand for our core products – phone numbers with number portability” - with significant organic growth from existing domestic and global customers “as they tackle the opportunities presented to them by the impending completion of the NBN roll-out and ISDN shut-down”.
“Our total numbers on network increased to 4.1m in the period, representing an annualised growth rate of 16%, with a considerable order volume going into H2,” Sugo said.
On the building of a next-generation voice network in Singapore - “the first fully interconnected carrier network built in the country since the year 2000” - MNF says physical construction of the network is now complete and undergoing interoperability testing with the incumbent carriers.
According to MNF (ASX:MNF), it continues to receive very strong interest from its global customer base for fixed line phone numbers with number portability in Singapore, and is currently targeting a soft launch with initial customers by H1 FY21.
And on the 2018 acquisition of Telco-In-A-Box (TIAB) for $33.8 million for the purpose of consolidating its whole customer base into the domestic wholesale business, MNF says the corporate restructure of TIAB was completed in H1 FY20 at a once-off cost of $1.3m (not been included in EBITDA).
MNF says the TIAB business has delivered considerable benefits to the group, including addition of new staff to the team, a broad range of quality customers, as well as significant scale and new products to our portfolio.