Ann: Half Yearly Report and Accounts , page-15

I think the article highlights the difference between 2 companies operating in the same market and it appears to conclude that MNF is clearly challenging the recognised market leader in terms of both customer numbers and financial performance.

I do not draw the conclusion that a VOIP company can not exist with VOIP alone......the AUS VOIP market potential is enormous, MNF has positioned itself as a Telco in this market and is clearly trusted by tens of thousands of happy users and business's.

I think VOIP margin is also probably a little fatter than broadband margin and is also prone to incresed revenue depending on how many calls the customer makes.

MNF is a best in class telco and clearly aims to be preceived that way, the future is rosy for MNF methinks with or without a broadband offering.