M2 Group has added more than 50,000 new customers for its telecom services despite a decline in its mobile business.
M2 added about 31,000 broadband customers in the half-year ended 30 June and now has 482,000 customers. That is a 17 per cent increase from the same period last year.
M2 increased its fixed voice customer base by 5.9 per cent year-over-year, ending the half with 773,000 customers.
The gains offset a loss of about 4000 mobile customers in the half. M2 ended the reporting period with 225,000 mobile customers, a 11.4 per cent decline from the same period last year.
However, the rate of decline in mobile was still better than the previous half, when the company shed 25,000 mobile services. M2 attributed the improvement to the launch of 4G plans.
M2 CEO Geoff Horth said he was particularly proud of this half year’s broadband growth.
“This growth has been achieved through investments into our sales channels, marketing and products and through the tireless work of the M2 team,” he said.
“We will continue to work hard and invest appropriately to maintain this growth trajectory into fiscal year 2015.”
M2 is scheduled to release results for fiscal year 2014 on 25 August.NBN FTTN's power bill: $89m a year?