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MNF Group Ltd (ASX:MNF) Grows Revenue By 15% In FY18

Jaz Harrison
Jaz Harrison
Jaz Harrison

Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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MNF Group Ltd (ASX: MNF) released its 2018 financial results to the market today revealing a 15% rise in revenue.

MNF is one of the main Voice over Internet Protocol (VoIP) providers in Australia.

Here are some of the highlights from its report:

  • Revenue grew by 15% to $220.7 million
  • Gross profit increased by 18% to $69 million
  • EBITDA went up by 3% to $23.9 million
  • Net profit fell 2% to $12.1 million
  • Dividends per share increased by 1% to 8.25 cents

MNF management were pleased with all segment growth. Domestic Wholesale grew gross profit by 15%, Global Wholesale gross profit went up 17% and Domestic Retail increased gross profit by 22%.

Rene Sugo, CEO of MNF, said: “We expect the performance in sub-segments to accelerate into FY19 as new technology continues to disrupt voice communications thanks to the roll-out of the NBN.”

MNF also recently made an acquisition in Singapore called SuperInternet to expand into that country and win over companies that have their Asian regional headquarters located there.

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