The expanding Vocus Communications sharply increased revenue and profits in the first half of 2015, according to financial results released today.
Vocus reported $62.7 million revenue in the six months ended 31 December, up nearly 42 per cent from $44.3 million in the same period last year.
Vocus reported a huge increase in its statutory net profit after tax (NPAT). Statutory NPAT was $26.2 million in the H1 2015, a more than five times increase from H1 2014.
There was a more moderate gain for underlying NPAT, another measure of profits, which excludes net gains on total return swaps, gains on early repayment of borrowings, acquisition and integration costs. This was about $9 million in H1 2015, up 54 per cent from the same period in 2014.
Increasing demand for data services and take-up of Vocus products, combined with recent acquisitions, drove the company’s growth, Vocus said.
“This is another excellent result which demonstrates the successful execution of the company’s strategy,” said Vocus CEO James Spencely.
“The result highlights the strong structural demand for Vocus’ core products and the attractive nature of the company’s integrated offering.”
Vocus has announced a flurry of transactions over the last year.
This week, Vocus said it would pay $78.7 million to purchase additional capacity on the Southern Cross Cable Network.
Last week, Vocus announced a $23.5 million acquisition of two data centres from Enterprise Data Corporation. The data centres are based in Sydney and Meblourne.
Earlier this month, the company revealed a fibre construction joint venture with Spark New Zealand called Connect 8.
In July last year, Vocus Communications confirmed that it had acquired New Zealand-based fibre provider FX Networks for $107.7 million.