Amcom Telecommunications says it is well placed to gain leverage in the emerging cloud computing sector after lodging a 50 per cent increase in net profit after tax to $25.9 million for financial year 2010-11.
The Perth-based telco reported today a 48 per cent spike in revenue, up to $87.2 million and an operating cash flow increase of 37 per cent, to $28.7 million.
Amcom’s fully franked dividend of 1.6 cents was up 14 per cent on the previous year.
Amcom chief executive Clive Stein said the results reflected the ongoing demand for the company’s core fibre-based communications services.
“Amcom’s focus on always striving to improve the value proposition of its product offerings and an embedded customer service culture sets us apart from our competitors and results in us continuing to deliver attractive shareholder returns,” Mr Stein said in a statement.
“Our ability to now offer a comprehensive suite of hosted IT solutions in the emerging cloud computing market will drive the next growth phase in the evolution of Amcom.”
Mr Stein said the recently announced cloud partnership with the University of Western Australia was a watershed agreement for the company.
“It demonstrates our ability to be highly competitive for enterprise clients in the Cloud space,” he said.
Amcom’s stock had risen 7.4 per cent at 9:50AM (WST) to trade at 29 cents.
