Sunday, 17 October 2021
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Superloop posts $7.1M profit

Superloop has posted $7.1 million net profit after tax for the 2018 financial year, the first positive full year NPAT for the company since listing on the Australian Securities Exchange in 2015.

The publicly-listed telecommunications provider reported net loss after tax in its two previous full year financial results with a net loss of $7.2 million in FY16 and a net loss of $1.2 million in FY17.

“Over the past 12 months, Superloop has acquired two strategically compelling businesses and is now integrating them,” Superloop CEO Drew Kelton said about NuSkope and GX2.

“In addition, the team has continued to focus on disruptive innovation to organically grow the business by expanding Superloop’s physical and active networks in Australia, Singapore and Hong Kong.”

Earnings before interest, tax, depreciation and amortisation (EBITDA) went from $4.6 million in the previous reporting year to $29.1 million in the year ended 30 June 2018 – revenue for the full year was up 109 per cent to $125.2 million.

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