M2 Announces 45 Per Cent Profit Increase

M2 Announces 45 Per Cent Profit Increase

The New Zealand-based telco, Black + White, is making a strong contribution to the overall results achieved by M2 Telecommunications Group Ltd.

M2 announced today a 45 per cent profit increase to the Australian Stock Exchange for the half year period ended 31 December 2012 with earnings per share also up by 45 per cent.

The Board of Directors have also declared a fully franked interim dividend of 9 cents per share, an increase of 29% on the previous corresponding period and M2’s 15th consecutive dividend.

M2’s CEO, Geoff Horth, said of the Company’s results: “This robust first half result is an excellent indicator of our ability to grow profits and dividends whilst still investing in improving internal operations and sales capability. We move forward into the second half with a sales force united under the trusted Commander brand and customer support consolidated into our Hobart Centre of Excellence; well positioned to drive our growth and customer satisfaction objectives,” Mr Horth said.

The Directors have further declared that the Dividend Reinvestment Plan (“DRP”) will be made available to shareholders for the interim dividend, at a 5% discount to the volume weighted average price of shares sold on the ASX in the five trading days following the record date. Election notices for participation in the DRP must be received by M2 no later than the record date of 22nd March 2012.

Johnathan Eele, Black + White, which offers fixed line, 3G Mobile and broadband services, said the New Zealand market contribution to the company continues to grow.

“We are achieving very positive results in the New Zealand market particularly with strong growth in the smaller to medium sized business area,” Mr Eele said.

ends

© Scoop Media