Amcom grows profits with cloud demand

Insert 'silver lining' pun here...

Perth based fibre-optic carrier Amcom Telecommunications has boosted annual profits by 31 percent, forecasting similar growth for the year ahead bolstered by cloud services.

Amcom reported a net profit of $AU25.9 million for the year to June 30, up 50 percent. on the previous year.

In recent cloud based provision deals it has secured partnerships with BlueFire Corporation and the University of Western Australia.

Amcom CEO Clive Stein said “our recently announced cloud partnership with the University of Western Sydney was a watershed agreement for Amcom.

"It demonstrates our ability to be highly competitive for enterprise clients in the cloud space and validates our innovative service driven culture. Our core fibre business is performing exceptionally well, and we are now ideally positioned to exploit the rapid growth of the emerging cloud services market”.

Included in the profit is $AU4.3 million in proceeds from the sale of part of Amcom's stake in ISP iiNet, which took place in June. A further $AU7.8 million came from equity earnings from the remaining 20 percent% stake in iiNet, which Amcom is to offload to its shareholders in the current year.

“Our ability to now offer a comprehensive suite of hosted IT solutions in the emerging cloud computing market will drive the next growth phase in the evolution of Amcom,” Stein said. ®

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