Acquiring Commander and People Telecom have proved smart buys for M2 Telecommunications (ASX:MTU), which has reported a 115 per cent year on year increase in revenues to $188 million for the half year to 31 December 2009.
Net profit after tax was up 156 per cent year on year to $8.2 million, while EBITDA was up 150 per cent year on year to $15.35 million.
“The successful integration of acquisitions made by the company late in financial year 2009 has contributed strongly to the outstanding financial performance delivered in the period,” the company said in an ASX statement.
M2’s chief executive officer and managing director Vaughan Bowen said the company was now expanding its “brand family” which included People Telecom, Commander, Southern Cross Telco, and was seeking to expand its wholesale business.
M2 Telecom provides retail fixed-line, mobile and data telecommunications services, is headquartered in Melbourne employing around 400 people.