Kordia Group, the state-owned telecommunications and media business, has reported earnings before interest and tax up 90.9% to $14.7 million.The major provider of television and broadcast facilities in this country said revenue rose 1.8 percent to $258.3m
Kordia Group, the state-owned telecommunications and media business, has reported earnings before interest and tax up 90.9% to $14.7 million.
The major provider of television and broadcast facilities in this country said revenue rose 1.8 percent to $258.3m in the year to June 30.
Earnings before interest, tax, depreciation and amortisation rose 23.6 percent to $50.8m. The company reported a bottom line net loss of $0.9m from a loss of $1.1m last year.
Kordia Solutions had another strong year in Australia, though a drop in revenue in New Zealand, where market conditions have been difficult, resulted in an overall revenue decrease of 6.7 per cent.
Strong cash flows and tight financial controls enabled Kordia to invest $22.5m to support growth and product development while reducing net debt by $16.3m to $89.1m.
Acquisitions and investments made in new products in the last few years were now contributing strongly, said chief executive Geoff Hunt.
"Orcon has had a particularly successful year with revenue up 43 percent and an ebit turnaround of $7.5m," said Mr Hunt.
Kordia Networks' revenue was down 2.1 percent with the impact of analogue television close down commencing with the termination of SKY Network Television's UHF transmission services.
