Uniti Group closes record year off the back of Opticomm acquisition


Michael Simmons (Uniti Group)

Michael Simmons (Uniti Group)

Credit: Uniti Group

Publicly listed Uniti Group has seen revenue soar 175 per cent to $159.9 million for the year ended 30 June 2021.

In a record year for the telecommunications provider, underlying earnings before tax skyrocketed 254 per cent to $93.7 million as reported net profit jumped 85 per cent to $29.2 million.

The company’s wholesale and digital infrastructure business dominated earnings, accounting for 84 per cent of the $93.7 million.

This dominance is expected to continue in the near and longer-term, as a result of the substantial expansion of contracted and ‘in-construction’ fibre-to-the-premises (FTTP) orders in the six months to June 2021, from 202,000 to greater than 250,000. This takes Uniti’s combined premises  — connected, ready to connect, contracted, in-construction and Telstra Velocity premises — to more than 565,000.

The OptiComm acquisition has also played a major role in the six months to June 2021 in numerous contract wins with property developers and strategic agreements with a number of large scale developers, delivering a secured flow of new FTTP premises via long-term pipeline commitments.

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