Tuesday, 27 August 2019 12:42

Revenue dips 2%, profit down 4% for MNF Group Featured

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Revenue dips 2%, profit down 4% for MNF Group Image by scholty1970 on Pixabay

Communications provider MNF Group has reported a drop in revenue of 2.3% to $215.6 million for 2019 compared to 2018, and also a 4% decline in NPAT to $11.4 million for the year.

However the company said in a statement to the ASX on Tuesday it was pleased to report an “excellent profit” for the 2019 full year to the end of June, and reaffirming its FY20 EBITDA guidance of $33m to $36m – a forecast growth of 27%.

Along with growth in recurring revenue, MNF lists result highlights for the year as:

  • •Recurring gross margin growth of 60% to $49.4 million.
  • •Phone numbers on network grew organically by 18% to 3.8 million.
  • •Overall gross margin growth of 20% to $82.5 million.
  • •EBITDA growth of 11% to $27.2 million.
  • •Underlying EPS-A growth of 12% to 21.7 cps.

On its In-A-Box acquisition integration, MNF says the integration of the IAB business is well underway with full integration due to be completed by December 2019.

And its Singapore network rollout - the deployment of the company’s specialised voice network and software eco-system - is also well underway with the projects initial phase due to complete in December 2019.

According to MNF, it is seeing strong demand for the Singapore market, underpinning the company’s Asia-Pacific regional growth strategy.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year 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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