Perth-based business telco Amcom has announced a 56 per cent increase in annual revenue to $136 million and a 10 per cent increase in post-tax profit to $16.8 million.
Growth came from a $40 million increase in revenue from business services to $60.1 million following the acquisition of cloud-computing service L7.
Fixed networks delivered $64.7 million of the revenue, up $10 million, while revenue from residential ADSL internet services dropped by $800,000 to $10.5 million.
The results have not been audited. The company will provided audited results with its annual report in late September.
Amcom declared a final dividend of 3.2¢ fully franked, taking the full year dividend to 5¢ up from 4.8¢ in 2010-11.
Shares are trading at $1.18 around lunch time — 3¢ lower than yesterday's close.
Chairman Tony Grist said this was the tenth consecutive year that underlying earnings grew more than 20 per cent.
"Over the past seven months, shareholder value has been enhanced by a 50 per cent increase in share price. I am also delighted to advise that the management team has achieved their long term incentive programme."
The company has a low debt to earnings ratio, of about 23 per cent, and could probably handle acquiring one new company every year to boost its capabilities, chief executive Clive Stein said.
"We will look for further acquisitions, probably not immediately but over time. It all depends on on what is is available at any given time," he said.
Management expects to see a similar increase in earnings for the 2012-13 financial year.