Neotel, licensed more than five years ago as the first infrastructure competitor in fixed-line telecommunications to Telkom, has reached positive earnings before interest, tax, depreciation and amortisation (Ebitda) or the first time.
It reached the milestone in the second quarter of its financial year, ended September 2011, the company said in a statement.
The company continues to lose money on the bottom line, but achieving Ebitda is an important step to profitability.
According to Neotel, in the first six months of the financial year, it has grown its business customers by 23% and its retail consumer base by 40%.
Neotel, grew its revenues by approximately 25% in the first half of the 2012 financial year from a year ago. — Staff reporter, TechCentral
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