iiNet has flagged that it intends to continue down the consolidation path, stating its goal to become the “acquirer of choice” in the Australian internet service provider sector.
Speaking at the company’s annual general meeting, iiNet non-executive chairman, Michael Smith, noted the importance of acquisitions to iiNet’s success, pointing to the company’s history of acquiring some 30 companies in its history, and more recently, Westnet during the 2009 financial year.
“iiNet had become the 'acquirer of choice' and was uniquely positioned to continue leading industry consolidation,” Smith said.
“The acquisitions of Netspace in April 2010 and AAPT’s consumer business in September 2010 were consistent with iiNet’s focused strategy, propelling iiNet to the position of the leading challenger brand in the Australian telecommunications industry.”
Smith also noted that customer service had been a key differentiator for the company in the past year.
“Net Promoter Score (NPS) is our truth barometer. It tracks the net percentage of customers that would refer iiNet to their family and friends, and is closely aligned with customer retention,” Smith’s chairman’s address reads.
“iiNet’s NPS score ranks the Company alongside such great global brands as Apple and BMW. Reflecting our ongoing commitment to first class service delivery iiNet continues to receive industry awards, with customer retention remaining very high.”
Smith also said the company had also been focused on delivering new content and products to deliver in addition to basic internet carriage in order to not become “just another utility.”
“We are proud of iiNet’s position at the forefront of the Australian ISP industry, continuing to lead the industry with our pioneering thoughts and quick actions,” the address reads.
“We are determined to continue leading the way off the back of iiNet’s Freezone content together with BoB, fetchtv, updated broadband plans, and new business customer packs.”
As reported by Computerworld Australia the company had also launched a new R&D lab for the production of media devices, specifically focusing on the next generation of modems.
Smith also reiterated the company’s 2010 financial year performance, which included year on year revenue growth of 13 per cent up to $474 million, and a net profit after tax up 36 per cent to $34.8 million.
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