Finance News Network | March 6, 2011
M2 Telecommunications Group Ltd (ASX:MTU) has boosted its full 2011 financial year net profit after tax guidance by 20 per cent to $27.3 million.
In the year to 30 June earnings before interest tax, depreciation and amortisation is also expected to rise by 18 per cent to $49.3 million.
M2 says the upgrade is underpinned by forecast improvements in the company’s second half wholesale purchasing agreements.
Revenue and earnings from its recently completed acquisitions of the business assets of Clear Telecoms and the mobile assets of AUSTAR have also contributed to the stronger outlook.
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