For H1FY17,Debt free and well-funded to support growth objectives

Debt free and well-funded to support growth objectives: For H1FY17, group operating revenue grew by 1.2% to $47.0 million led by M2M & Fixed Wireless revenue as it grew by 16.4% yoy growth to $36.3 million (77% of group revenue). While adjusted EBITDA grew by 40.5% yoy to $12.5 million, there was NPAT loss of $1.7 million. Importantly, the company is continuously investing in growth assets to support long term revenue growth. For H1FY17, the company witnessed a strong cash generation with cash inflow of $6.1 million, with no debt on its balance sheet, while having $30 million cash at the end of December 2016. Recently, the company won three major contracts from reputed customers (wherein the contracts included Ericsson/nbn Fixed Wireless, nbn FTTC and US Fixed Wireless).

 

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