ASX-listed ISP iiNet who is working with Fetch TV to launch a competitor to the Telstra T Box has reported net profit of $34.8 million, up 36 percent on revenue of $473 million, up 13 percent for the year to June 30.
ASX-listed ISP iiNet who is working with Fetch TV to launch a competitor to the Telstra T Box has reported net profit of $34.8 million, up 36 percent on revenue of $473 million, up 13 percent for the year to June 30.
Total broadband customer numbers reached 539,000 – and should swell to around 645,000 when iiNet’s latest acquisition of AAPT goes through next month, following the earlier swallowing of Westnet and Netspace. That will consolidate iiNet Australia’s position as Australia’s No. 3 ISP after Telstra and Optus.
CEO Michael Malone said the ISP has sold more than 50,000 units of “Bob”, its ADSL router/phone gadget – pictured – since it launch in August last year. At $9.95 a month, that appears to add a handy source of income of around half a million dollars each month.
Not selling quite so rapidly is the recently launched Fetch Internet pay-TV service: just 300 subscriptions sold in three months.
Legal costs of the ongoing copyright case are put at $3.8 million, with $2.7 million covered by insurance.
