BigAir's H1 profit soars by 211%

Australian wireless broadband service provider BigAir Group saw its profits soar in the first half ended 31 December due to the successful integration of recently acquired businesses and a continued focus on organic growth. Revenues grew by 115 percent to AUD 10.97 million from AUD 5.10 million a year earlier. EBITDA totalled AUD 4.57 million, up 161 percent and net profit grew by 211 percent to AUD 1.97 million from AUD 630,000 in the year-ago period. BigAir said it is on track to deliver FY 2012 EBITDA guidance of AUD 9 million. The board of directors has initiated a dividend policy and expects to pay a maiden FY 2012 final partially franked dividend to shareholders.