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Business Description: M2 Telecommunications Group Limited (MTU) is a network independent provider of telecommunications services to residential and business customers within the Australian and New Zealand markets. MTU has two core divisions namely retail and wholesale.
Strategy Analysis: M2 continues to focus on its two core target markets: Small & Medium Businesses (SMBs) and Telecommunications resellers and Internet Service Providers (ISPs), via our M2 Wholesale division. In respect of our infrastructure strategy, M2 remains 'infrastructure light¬ī, utilising the network infrastructure of (principally) the largest telcos in Australia and New Zealand combined with limited company-owned infrastructure, used to deliver our range of data services. This strategy enables the Company to continue to generate strong cash flows without the requirement for heavy capital investment and also provides us with technological flexibility so as to ensure we continue to provide our customers with products and services which are relevant to their requirements.
M2 Telecommunications Group reported NPAT up/down % to $ for the half-year ended 31 December 2012. Revenues from ordinary activities were $305.15m, up 65% from the same period last year. Diluted EPS was 15.49 cents compared to 13.34 cents last year. Net operating cash flow was $36.03m compared to $22.06m last year. The interim dividend declared was 10.0 cents compared with 9.0 cents last year. The directors are of the opinion that the business remains on track to deliver upon the forecast guidance previously issued for the financial year ending 30 June 2013, in light of the expected half year performance and the encouraging progress being made in terms of revenue growth, margin control and expense management.
The Age 22/05/2013 |
A piece of broker research came out last week that described the budget as a sensible one but an almost suicidal one for a government four months out from an election. Instead of trying to buy votes, it seemed intent instead on putting as many noses out of joint as it possibly could.
The Age 22/05/2013 |
In last week's budget, the government missed what will probably be its last opportunity to make the superannuation system fairer and more sustainable. While the government made some tough decisions, such as reneging on promised tax cuts, one of the fastest-growing expenses is the tax concessions for superannuation.
The Age 22/05/2013 |
Last week's budget was a bit of aho-hum affair on many levels related to superannuation, because most of the changes to the system had been announced back in April. The transfer of the Baby Bonus into an extra (reduced) payment for families eligible for Family Tax Benefit Part A, has drawn the light fairly and squarely on the costs of bearing and raising children. The recent debate about the opposition's Paid Parental Scheme versus the government's less-generous scheme has added fuel to the fire.
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