Uniti Group surges amid strong demand for fibre internet : v

Uniti Group surges amid strong demand for fibre internet


Telco services company Uniti Group has posted strong revenue and earnings growth on the back of its fibre network business.
In the six months ended 31 December 2020, Uniti’s revenue grew 148 percent year over year to $54.6 million, while EBITDA grew 307 percent to $29.3 million.
Net profit declined 24 percent to $3.9 million due to costs incurred with the acquisitions of OptiComm, Harbour ISP, Telstra Velocity, among others. Underlying profit increased 409 percent to $24.7 million.
The growth was attributed to digital app evolution, a strengthening property market, growing demand for speed and data, near-infinite fibre technology capacity and anticipated retail price inflation.
All three of the company’s units have posted growth during the period. Wholesale & Infrastructure was fuelled by strong fibre demand, while the retail service provider business unit, Consumer and Business, saw an 80 percent jump in new customers.

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