BigAir CEO, Jason Ashton
Local telco, Big Air Group, has reported its full year earnings, which saw revenues up 50 per cent to $62.7 million and net profit after tax (NPAT) of $8.5 million (up 34 per cent).
Its managing director, Jason Ashton, said the results were driven by its Cloud, managed services and unified communications acquisitions over the past few years, namely IIPC in 2013, and its Anittel and Oriel purchases late last year.
The company’s strong financial year was particularly poignant in the second half, where it posted an EBITDA of $10.4 million of the year’s total $18.9 million. The consolidation of Oriel was a key feature, providing $9 million of the revenue in that half.
“The financial year just ended marked the end of a two year period of significant transformation for Big Air Group. Through the acquisitions of Oriel and most recently ApplaudIT we have successfully transitioned BigAir into an integrated telecommunications and trusted managed services provider,” he said.
“We remain focused on leveraging our core network capability and the unique advantages offered by our national fixed wireless footprint. BigAir can now bundle a much richer range of solutions for our customers whilst enjoying expanded horizons of growht for the business as a whole, in new markets and services.”
The company’s most recent acquisition, Applaud, won’t be figured into the aforementioned figures. Ashton said he expects the new consolidated business to contribute $6-7 million in revenues in full year 2016, and earnings of at least $700,000.
As a reward to shareholders, the dividend has gone up by 9 per cent to 1.2 cents per share.
