Australian hosting provider Dreamscape Networks has surpassed a $60 million revenue milestone, growing its hosting and domain bookings and returning to profit.
The company earned $61.5 million revenue in the 12 months to 30 June 2018, growing 32 percent from 2017’s $46.7 million.
Net profit after tax was $2.7 million, a significant turnaround from its $12.8 million loss in 2017, which was dragged down by reported “forgiveness of advances to related parties”.
The company reported strong growth in its hosting and domain sales bookings, with hosting bookings up 45 percent to $32.1 million from $22.2 million in 2017, while domains bookings were up 9 percent to $26.8 million from $24.7 million. The company's solutions bookings were steady, growing 2 percent to $6.3 million.
Dreamscape’s hosting bookings surge comes following an acquisition spree the company has been on since 2016, and added to in the 2018 financial year.
Dreamscape acquired Sydney-based Enetica Group, Singapore-based Vodien Group in Sydney-based Net Logistics last year.
Dreamscape chief executive Mark Evans said the latest financial year represented a period of “substantial transition”.
“Throughout the past year I am very pleased to report that we continued our track record of profitability and positive net operating cash flows,” he said.
“Dreamscape Networks is committed to its South East Asia growth strategy, the world’s fastest growing internet space, to drive long-term growth and shareholder value.”
Other changes to the business included the closure of the company’s Perth and Dubai offices, with the company shifting its headquarters to Singapore. The company also launched website builder Sitebeat and entered a strategic partnership with PayPal.