Anittel determined to buy up resellers

Nov 26, 2010 10:11 AM
Filed under Services

Slowing hardware sales impact forecasts.

ASX-listed Anittel (formerly Hostech) has told shareholders that it will continue to increase its national footprint through acquisition this financial year.

The company bought eight regional resellers in the past financial year.

"We will continue to grow organically and acquisitively. There remains a number of profitable businesses which fit our desired national footprint," Hostech's executive chairman Peter Kazacos said.

"Anittel is continuing to seek out the more developed and well placed of these to be part of our national approach."

The 2010 CRN Fast50 winner, which grew 310 percent in FY10 compared to over FY09, was cautious, however, in reaffirming its previously stated FY11 guidance of around $7 million to $9 million in EBITDA profit from revenues of $70 million to $90 million.

Kazacos told shareholders that the company considered there were risks in achieving the previous guidance based on "industry wide softening of hardware sales and will continue to monitor the impact of this guidance".

“Whilst at this point the board is not reaffirming its previous guidance we see a clear path to the success we have previously espoused. [The company] will restate its position at an appropriate time,” he said. 

Meanwhile, shareholders voted to change the company's name from Hostech to Anittel. 

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