Growth For Second Tier Internet Provider

Industry Leading Growth For Second Tier Internet Provider

MAXNET, a leading second tier Internet Service Provider (ISP) has announced a 48% growth in turnover for the financial year ended 31st March 2004.

“The dynamic and competitive nature of the ISP industry has resulted in significant consolidation in recent years. You need to be financially strong to remain in the marketplace” says Brett Herkt, Maxnet’s General Manager. Maxnet has itself played a part in the consolidation, having completed acquisitions each year for the past four years and has declined approaches by three potential purchasers in the past two months.

“Our previous strong growth was recognized with our 4th place in last year’s Deloittes Fast 50 together with the acknowledgement that Maxnet was the country’s fastest growing ISP. That growth has resulted in annual revenue in excess of $4 million placing us in a financially sound position to continue moving forward.”

"Maxnet's growth has been underpinned by a commitment to put appropriate infrastructure in place before committing the company to the next stage in its growth. "By doing this we have been able to maintain our high service levels during a period of sustained growth', says Mr Herkt"

Maxnet has recently expanded further following the purchase of a major Internet Data Centre in Auckland, says Mr Herkt.

“We are now able to offer significantly enhanced hosting and colocation services for New Zealand businesses that use the internet to drive their own growth.”

www.maxnet.co.nz

ENDS

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