Neotel, South Africa’s first converged communications network operator, has announced that the business grew 21% year-on-year and turned PBT (profitable before tax) positive for the first time since its inception seven years ago. The company achieved a positive PBT ahead of its plans.
The company also announced a 21% increase in revenue compared to the same period last year, while EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) rose 105% year-on-year.
Neotel grew revenue across all its business units, including Managed Services (125%), Network Services (10%), NeoVoice (24%) and NeoInternet and NeoBroadband (20%). This has resulted in sustained customer services growth of 27% in the Small Enterprise/Retail segment and 24% in the Business segment.
Neotel did not comment on the exclusive discussions with Vodacom regarding a potential acquisition of the company, apart from reiterating that the finalisation of the transaction is subject to the successful conclusion of commercial negotiations and receiving the requisite approvals. Joshi did note that, “a combined entity would be better placed to offer an expanded product range and level of increased funding and as a consequence, enhanced customer choice as well, while enabling Neotel to extend its footprint in South Africa.
” Neotel launched its LTE powered by NeoBroadband solution in late Q2 and is also seeing demand for data growth. Joshi says.” With the launch of the LTE service, Neotel has a full suite of Internet and Broadband products for their enterprise and SMB customers with the best performance of Internet, as per the June 2013 MyBroadband survey. Complementing its world-class tele-presence service, Neotel also launched its innovative NeoConference solution (Videoconferencing as a Service), combining different platforms in one ubiquitous video experience.”
More from Uncategorized
Ford SA Gears Up for the Tech Advanced Seventh-Gen Mustang
The highly anticipated seventh-generation Mustang is set to make its debut in Mzansi soon, offering a thrilling blend of cutting-edge …
Here’s how much the new Huawei Nova 10 will cost you
Just when you think Huawei is done with smartphone introductions, another model rolls off the production line. This time around, …
Here’s all we know about the Honor 70
Revealed at IFA 2022 this past week, Honor's new mid-range smartphone targets the vlogging crowd with several interesting features. Chief …