NEXTDC Ltd Strong H1 2017 performance
Strong H1 2017 performance:NEXTDC Ltd (ASX: NXT) recently appointed Ms Sharon Warburton as a new board member. The group had reported a splendid 39% rise in revenues to $58.7 million in the first half of 2017 while reported a 110% rise in EBITDA to $23.9 million. NEXTDC data center services’ revenue rose by 36%. The strong growth was on the back of rise in customers by 23%, coupled with 42% rise in interconnections and 32% rise in utilization. NXT has invested $75.7 million in capital. Going forward, the company’s B2 and M2 projects are on track to achieve practical completion towards the end of H2 2017. The company has S2 site under contract with development approvals in progress. As on December 2016, the company has cash and term deposits of $276.5 million. Meanwhile, NXT raised $150 million of equity for S2 development and has $100 million senior debt facility with NAB. Further, the company also has option to refinance $160 million Notes I and II in June 2017 and every six months thereafter.
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