Uniti Group closes record year off the back of Opticomm acquisition

[ad_1]

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.

!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1724434721147660’);
fbq(‘track’, “PageView”);
window.fbAsyncInit = function() {
FB.init({appId: ‘105374282841262’, status: true, cookie: true,
xfbml: true});
};
(function() {
var e = document.createElement(‘script’); e.async = true;
e.src = document.location.protocol + ‘//connect.facebook.net/en_US/all.js’;
document.getElementById(‘fb-root’).appendChild(e);
}());

[ad_2]

Read More:Uniti Group closes record year off the back of Opticomm acquisition