Macquarie Telecom Group projects continued growth to FY2018

Company News

by Kathy Skantzos

Macquarie Telecom Group (ASX:MAQ) highlighted its FY2017 results at its AGM today, with revenue up 8 per cent to $220 million, driven by growth in its cloud services and government sectors.

Growing demand for cloud services from federal government agencies, including the ATO, gives the company confidence for future growth of it is government business, with further investment expected.

The company announced its intention to make an off-market bid through Macquarie Cloud Services to acquire all the ordinary shares of Bulletproof this week.

EBITDA for FY2017 gained 25 per cent to $40 million, driven by net sales performance, which the company said will continue to grow into FY2018, with the first half expected to be offset by ongoing power increases and investment in sales growth.

NPAT and earnings per share both increased 170 per cent, due to increased margins for its cloud services and government business, and reduced depreciation.

Shares in Macquarie Telecom Group (ASX:MAQ) are trading flat at $14.43.

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