Vonex Retail & Wholesale Divisions Trading Update
Highlights:
- Vonex wholesale and retail telco divisions continue to perform above expectations
- Unaudited combined profit over the period (1 July 2017 to 31 March 2018) for the two divisions of $959k
- Strongly positions Vonex as the Company advances its IPO on the ASX
30 April 2018 – Innovative telecommunications service provider Vonex Limited (“Vonex” or the “Company”) is pleased to provide a trading update for the 9-month period ending 31 March 2018, summarising unaudited results of the Company’s wholesale and retail telco divisions.
Vonex continues to perform strongly with the preliminary, unaudited figures demonstrating successful revenue and net profit growth for both divisions.
IP Voice and Data (IPVD or Retail Division)
Vonex is pleased to announce that total sales for the Retail Division over the 9-month period (1 July 2017 to 31 March 2018) is $5.163 million.
The unaudited sales figure represents a $0.731M sales increase for the same period last year – a 17% increase in comparative year results. Due to this strong performance, Vonex’s Retail Division has delivered an EBITDA, albeit unaudited, of $861,000 and a net profit of $853,000, over the period. Net profit for the Retail Division during the same period last year was $449,000.
Even though the figures provided are unaudited, the results reflect the Retail Division’s high revenue to profit conversion rate and confirms a strong retail demand for Vonex’s innovative solutions.
IPVD retails the hosted PBX, internet connections, NBN, mobile and landline telephony packages at very competitive prices, predominantly to SME customers, under the Vonex brand. New customers are acquired via Vonex’s channel partner network, which is best thought of as a large sales force.
Vonex Wholesale
Vonex’s Wholesale Division continues to perform at an encouraging rate, with total unaudited sales for the reporting period of $0.790 million, compared to $0.697 million for the same period last year (a 13.3% increase). The strength of the wholesale performance translates to an EBITDA of $118,000 and a net profit of $106,000. The Wholesale Division recorded a net loss of $61,000 for the same period last year.
Although unaudited, the EBITDA figures are particularly pleasing to the Company, with the division recording a loss in the previous year.
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