Melbourne IT reports 83% rise in profit

Company News

by David Chau

Australian internet company, Melbourne IT (ASX:MLB), has reported its NPAT rose 83% to $85 million in FY16.

The company also says its revenue rose 23% to $2.2 million.

Melbourne IT has declared an interim fully-franked dividend of 2 cents per share in FY16, which is double what it was in FY15.

The company says this growth was driven by its Enterprise Services division, the acquisition of Infoready (a data analytics business), as well as savings from integrating two of its other acquisitions - domain name business, Netregistry, and cloud services provider, Uber Global.

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