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Thursday, 16 March 2006 17:21

Access Providers heads for Sydney and profit

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ASX listed wireless broadband service provider, Access Providers has reported a 122 percent increase in revenue, to $4.086 million for the half-year ending December 31, 2005.

However, this was offset by a loss of $0.283 million which the company said was a result of one-off abnormal costs associated with the acquisition and integration of Saise.

Gross profit increased from $1.556 million to $1.751 million and customer numbers grew 31 percent across all segments (wholesale, indirect and direct). Access Providers expects revenue for the fiscal year 2005 - 06 to be between $10 million and $12 million - a monthly run rate that will deliver annualised profits of $1.5 million by December 2006.

CEO, Keith Ondarchie said the acquisition of Saise has helped drive greater shareholder value, which has been reflected in the increase in revenue for the half-year. "We have also increased on-net traffic as part of the migration program, transitioning Online 2000 and Saise DSL customers onto our wireless network to achieve greater margins and prepare for the migration of voice customers to our VoIP Network ."

The company says it has started to acquire sites in Sydney to install its WiMAX infrastructure and will be commencing installation shortly. It anticipates having customers connected to its new network in June 2006. It is also rolling out "a range of new and innovative 'on net' products and services perfectly suited for the business market."


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