{"id":48600,"date":"2013-10-30T10:36:56","date_gmt":"2013-10-30T08:36:56","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=48600"},"modified":"2013-10-30T11:47:17","modified_gmt":"2013-10-30T09:47:17","slug":"neotel-sees-half-year-revenue-soar","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/48600\/neotel-sees-half-year-revenue-soar\/","title":{"rendered":"Neotel sees half year revenue soar"},"content":{"rendered":"

Neotel<\/a> has announced a 21% rise in year-on-year revenue for the half year period ended September 2013, while turning profitable before tax positive for the first time since its inception seven years ago.<\/p>\n

The company reported a 21% increase in revenue compared to the same period last year, while ebitda (earnings before interest, tax, depreciation and amortisation) rose 105% year-on-year.<\/p>\n

Steven Whiley<\/a>, Neotel CFO, said of the PBT figure, “its a small number, but it is positive”.<\/p>\n

Last month,\u00a0Vodacom<\/a>\u00a0and the shareholders of\u00a0Neotel\u00a0announced that they had entered into exclusive discussions regarding a potential acquisition of 100% of the shares of Neotel by Vodacom SA.<\/p>\n

Neotel did not comment on the exclusive discussions with Vodacom regarding a potential acquisition of the company, apart from reiterating that the finalisation of the transaction is subject to the successful conclusion of commercial negotiations and receiving the requisite approvals.<\/p>\n

Sunil Joshi<\/a>, MD & CEO of Neotel\u00a0did note that, \u201ca combined entity would be better-placed to offer an expanded product range and level of increased funding and, as a consequence, enhanced customer choice as well, while enabling Neotel to extend its footprint in South Africa.\u201d<\/p>\n

\u201cThe plan was to turn ebitda positive in FY12 \u2013 team Neotel did this. Then we set a target of being ebit positive in FY13 \u2013 Neotel did this too. Now we have achieved our target of being PBT positive – ahead of plan,\u201d the CEO said.<\/p>\n

Neotel said it grew revenue across all its business units, including Managed Services (125%), Network Services (10%), NeoVoice (24%) and NeoInternet and NeoBroadband (20%).<\/p>\n

This resulted in sustained customer services growth of 27% in the Small Enterprise\/Retail segment and 24% in the Business segment.<\/p>\n

Joshi pointed to individual customers of 175,000, with business clients at approximately 3,000.<\/p>\n

More on Neotel<\/h3>\n

Neotel spectrum belongs to the state<\/strong><\/a><\/p>\n

Neotel, Vodacom a R10 billion deal?<\/strong><\/a><\/p>\n

Vodacom, Neotel confirm talks<\/strong><\/a><\/p>\n

Neotel reaches earnings milestone<\/a><\/strong><\/p>\n

Vodacom CEO\u2019s strategy explains Neotel acquisition plans<\/strong><\/a><\/p>\n

Why buy Neotel?<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Neotel has announced a sizable rise in year-on-year revenue for the half year period ended September 2013<\/p>\n","protected":false},"author":9,"featured_media":13263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[26,261,2898,27],"class_list":["post-48600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-headline","tag-neotel","tag-sunil-joshi","tag-vodacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/48600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=48600"}],"version-history":[{"count":17,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/48600\/revisions"}],"predecessor-version":[{"id":48620,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/48600\/revisions\/48620"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/13263"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=48600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=48600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=48600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}