E-net posts full-year profits of €1.7m

27 Aug 2010

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

The company responsible for administering phase 1 and phase 2 of Ireland’s Metropolitan Area Network (MAN) towns has reported a 49pc increase in revenues over the past year.

The company posted turnover of €13.9m for the year, completing its sixth consecutive year of double-digit revenue growth.

Revenue is up from €9.3m in the previous financial year and signals full year revenue growth of 49pc, defying a 10pc decline in the overall national telecoms market.  

E-net has now delivered a compound annual growth rate in revenue of 87pc over the past five years.

The company has also posted its first full year profit of €1.7m after tax, compared to a loss of €0.9m in the previous year.

“E-net’s performance in 2009/10 reflects a return on our long term investment in an open-access network,” E-net’s CEO Conall Henry said.

“By posting a 49pc revenue growth and a €2.6m year-on-year improvement in profitability, we have demonstrated that networks can be operated in a way that is both economic and policy supportive.

“The future is open -access and E-net has now proven that it has the ability to deliver policy and profit in such an environment.”

He said the current financial year will see E-net operating both Phase 1 and Phase 2 of the MAN project and the company is aiming for yet another year of double digit revenue growth and increased profitability.

The company currently employs 40 staff and partners with leading telecoms service providers such as BT, Vodafone, Magnet and UPC among others.

 

66

DAYS

4

HOURS

26

MINUTES

Buy your tickets now!

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com