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NBN customers boost iiNet revenues past $1 billion milestone

Brian Karlovsky | Aug. 21, 2014
Internet service provider iiNet has recorded more than $1 billion in full-year revenues on the back of 40,000 active NBN customers.

He said the company's new hosted Microsoft Outlook services made it much simpler and more cost effective for small businesses to manage their IT requirements, and the it would continue to expand its suite of these services in FY15.

"iiNet continued to deliver strong operating cash flow this year allowing for further investment in growth capital while paying down debt and increasing dividends," he said.

"The company's net bank debt was up only $5.3 million even after the acquisition of Adam Internet, clear evidence of the very strong cash flows being generated by the company.

Buckingham said there was more growth to come.

"We are excited about the growth prospects of the business as we execute our growth strategy to leverage our core and extend our brand," he said.

"iiNet was founded 20 years ago by Michael Malone with a culture of doing things differently.

"Having grown the business from his parents' garage into the second largest provider of DSL broadband in Australia, we applaud Michael for the tireless leadership he provided and wish him well with his future endeavors since retiring from the business in March."


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