ABB - Aussie Broadband Limited today closed up 19% to finish at...

ABB -Aussie Broadband Limited today closed up 19% to finish at $4.53 on $40m stock traded. The reason they were up today was because they released its half yearly results which highlighted a 17.7% increase in revenue to $445.9m. The diverse nature of the business contributed to the overall result, with residential, business, and wholesale segments all reporting double-digit revenue growth. Overall, gross margins increased to $154.3 million, up 16.7% on the prior corresponding period. ABB is also on track to complete the acquisition of Symbio Holdings which will provide cloud-based voice and messaging capabilities. Plenty of synergies in that acquisition I would have thought but as I am no telco analist nor can work my phone that well, don't take my word for it. Some highlights on today's news are listed below: Aussie Broadband continues to grow across all key metrics with strong revenue and EBITDA growth Aussie Broadband Limited (ASX:ABB) announces its financial results for the six months ended 31 December 2023 (1H FY24), demonstrating ongoing strength across the business and growing market share. 1H FY24 highlights (vs 1H FY23): Revenue grew 17.7% to $445.9 million EBITDA before non-recurring items grew 12.7% to $46.3 million Operating cash flow grew 57.8% to $40.7 million Total broadband connections grew 20.6% to 765,800 with strong growth across all segments Increased NBN broadband market share (excluding satellite) 1.3 ppt to 8.3% On track to complete the acquisition of Symbio Holdings (due 28 February 2024, post balance date) providing cloud-based voice and messaging capabilities. Strategically complementary to Aussie's business Successfully raised $140 million through a strongly supported institutional placement and retail share purchase plan, strengthening the balance sheet and providing funding for the Symbio acquisition and other potential M&A Aussie Broadband awarded Service Champion for Customer Service Organisation of the Year, and Service Champion for Project of the Year Customer Impact at the Customer Service Institute of Australia ASEA awards Aussie Broadband again recognised by The Roy Morgan "Risk Monitor" rankings as Australia's most trusted telco. Commenting on the Company's operational and financial performance in 1H FY24, Co-founder & Group Managing Director Phillip Britt said: "Aussie continued to demonstrate positive operational performance in the first half of FY24. The Company's transition from being a largely residential-focused retail service provider into a multi-faceted communications and technology service provider is well on track and delivering strong results. At the same time, our award-winning customer service has underpinned our success while continuing to grow our NBN market share. "Revenue grew 17.7% to $445.9 million, reflecting our strong customer offering across all business segments. EBITDA grew 12.7% to $46.3 million as we continued to focus on more profitable services, leveraging our recent investment in the fibre network, while operating cashflow grew 57.8% to $40.7 million. These results are testament to the wonderful team we have at Aussie and their dedication to providing the best customer experience possible.