M2 Telecommunications Group Ltd
(ASX:MTU) says it has achieved a record half year result, posting a 40 per cent rise in interim net profit to $11.5 million.
In the six months to 31 December 2010, the telecommunications services provider says revenue was up 15 per cent to $216 million.
M2 says that it made a number of small-scale acquisitions during the period which aided performance, but the majority of revenue and earnings growth came throw organic growth.
Earnings per share were up 25 per cent in the half year to 9.3 cents per share.
A dividend of 7 cents per share has been declared.
The company has confirmed it expects to deliver net profit after tax of between $22 million to $23.5 million in the full 2011 financial year.
The guidance is up from the company’s 2010 financial year result when M2 Telecommunications Group generated a net profit of $16.2 million.
