Vocus upgrades financial outlook

Aug 2, 2010 8:22 AM
Filed under Finance

Less than a month after listing on stock exchange.

Wholesale IP transit provider Vocus has upgraded its earnings guidance for the financial year to $5.69 million, some 15 percent higher than forecasts in its prospectus.

The company only started trading on the Australian Stock Exchange on July 8. A public offer via prospectus closed oversubscribed.

Chief executive James Spenceley said Friday that while the result was subject to auditing, it was a "strong result and testament to Vocus' wholesale business model".

He said the model was "underpinned by growing demand, long-term contracts and continued focus on customer service."

"The result, combined with our recent listing and capital raising sets the stage for Vocus to further invest in organic and acquisitive growth for FY2011 and beyond,” Spenceley said.

Spenceley told iTnews last month that the company could branch into ‘whiteboxed' layer 3 services in a national broadband network (NBN) world.

The company counts the likes of iiNet, Internode and TransACT among its customers.

 
Follow us on Facebook and Twitter
 
Vocus upgrades financial outlook
 
 
 
 
 
Top Stories
Here's what the Dicker Data mega-merger means in dollars
Distie to report $200 million jump in revenue.
 
Reader reaction: End of XP
Should Microsoft extend the deadline for supporting Windows XP?
 
Office 365 hiring coup for Brisbane gold partner
Million-mailbox Microsoft migration expert goes channel.
 
Sign up to receive CRN email bulletins
   FOLLOW US...
Polls
Which mobile device couldn't you live without?


Latest Comments
CRN Magazine

Issue: 328 | June 2014

CRN Magazine looks in-depth at the emerging issues and developments for the channel, and provides insight, analysis and strategic information to help resellers better run their businesses.