Wednesday, 29 August 2018 08:18

MNF Group sees revenue grow by 15% in FY2018

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MNF Group sees revenue grow by 15% in FY2018 Pixabay

Global telecommunications software and services provider MNF Group has reported a net profit after tax of $11.9 million for the financial year ending June, with revenue of $220.7 million, the latter figure being an increase of 15% on the previous financial year.

The profit for FY2018 was down 1.7%, with the group attributing this to its one-off investment in the Pennytel brand launch of $2.3 million. But the company said that its gross margin rose 18% to $69 million.

Chief executive Rene Sugo said: "“We are pleased with our gross margin growth, which was driven by strong growth across all segments: domestic wholesale (up 15%), global wholesale (up 17%) and domestic retail (up 22%).

“The domestic retail segment benefitted from a full-year contribution of CCI, as well as strong growth in enterprise and government (up 13%) and small to medium business (up 11%).

"We expect the performance in these sub-segments to accelerate into FY19 as new technology continues to disrupt voice communications thanks to the rollout of the NBN.”

mnf group

The company said it had adopted a four-dimensional growth strategy:

"Growth by geographic expansion – driven by the global wholesale segment as the company invests in additional network assets in new countries through-out the Asia-Pacific region;

"Growth by enhancing software capabilities – driven by the company’s pedigree of software innovation, continuing to expand its suite of communications software products and services;

"Growth by customer acquisition – as the company grows its market share domestically and globally, by acquiring new wholesale, business, enterprise and government customers; and

"Growth by customer expansion – as existing wholesale customers domestically and globally grow their own user base, these customers continue to acquire incremental capabilities from our company."

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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