Monday, August 30th, 2010 - Hostech
Sydney – August 30, 2010 - Results announced today by IT and telecommunications company Hostech (ASX:HTC) demonstrate the phenomenal growth the company is experiencing after a busy year of acquisitions. The company has expanded to 230 people in 15 locations, with revenues of $19.4m for the six months ended 30 June 2010 (up from $2.4m in the previous six months).

Six IT solutions and telecommunications companies were acquired by Hostech in January and April this year ( 5 Star Telecommunications, Officelink Plus, Anittel Pty Limited, Accord technologies (WA), Axxis Technologies and Aspirence) and Hostech Executive Chairman Peter Kazacos says further acquisitions are imminent: “Our aim is to provide the geographic diversity and technical competence to offer converged IT and telecommunications solutions that meet the under-served SME sector, particularly in regional Australia. These early results show our plan has traction with customers, making this a very exciting time for all involved.”

Costs associated with the acquisitions translated a small operational EBITDA profit for the six months ended 30 June 2010 into a net loss of $700k, a significant improvement on the $1.0m loss from the previous six months. An EBITDA profit in the range of $7-9m is forecast for FY2011, with revenues expected in the $70-$90m range.

Kazacos says the forecast reflects the full impact of the synergies from the group, including the extended local reach, diverse expertise and a broader range of products, encompassing traditional PABX and ISDN telephony as well as fully hosted on-net IP telephony solutions.

“We have an aggressive acquisition plan and a deep desire to play our part in bringing the latest generation of technology solutions to regional Australia,” says Kazacos.

Contact Profile

Hostech


Hostech provides voice, data, mobility, PBX, IT and hosted IP telephony services to small and medium sized enterprises, with a particular focus on regional Australia. The company is expanding through organic growth and targeted acquisitions to offer the scale, geographic reach and expertise for existing and prospective customers in this underserved market space.
Dana Dobbie
P: 0416072625
W: www.hostech.com.au

Keywords

Anittel, Hostech, Peter Kazacos, voice, data, mobility, PBX, IT, hosted IP telephony services

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