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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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Uniti Group sees record revenue and earnings


Uniti Group sees record revenue and earnings
Uniti Group sees record revenue and earnings
75 per cent of its contracted order book will go live within five years.
Uniti Group managing director and CEO Michael Simmons
Credit: Uniti Group
Telecommunications service provider Uniti Group has seen a 148 per cent year-on-year increase in revenue to $54.6 million and earnings before tax increased 307 per cent to $29.3 million in the first half of FY21 ending December 31. 
However, reported net profit after tax took a 24 per cent hit to $3.9 million.
Uniti said all three business units were benefiting from various strong ‘tailwinds’ including greater digital services uptake, data consumption, technology and strengthening residential property markets and lifestyle factors that made fibre broadband an essential service.   ....

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Uniti Group strikes $140m deal to buy Telstra asset, readies raising


Uniti Group strikes $140m deal to buy Telstra asset, readies raising
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The company s brokers were lining up fund managers on Wednesday morning.
Street Talk.  
Fairfax Media
The raising was expected to be done via a placement and to help fund a new acquisition.
This time, it is understood Uniti has a deal to buy Telstra Velocity for $140 million and plans to fund it via a $50 million share placement.
The placement launched on Wednesday. The deal was underwritten at $1.50 a share by Bank of America, which represented a 1.4 per cent premium to the last traded price. It represented 5.3 per cent of Uniti s existing shares on issue. ....

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Uniti Group acquires Telstra's fibre-to-the-premises network Velocity for $140m


Telco and fibre network operator Uniti Group has acquired Telstra’s fibre-to-the-premises (FTTP) network, Telstra Velocity, for $140 million.
Telstra Velocity comprises Telstra s FTTP network deployed to provide broadband services to Telstra Velocity estates and its South Brisbane Exchange regions. It currently services some 55,000 customers and covers up to 68,000 premises.
The acquisition is Uniti’s latest in a number of fibre network builders, including OptiComm and LBNCo, both of which were acquired within the past two years.
As part of the deal, Telstra also becomes a retail service provider (RSP) of Uniti Group’s national FTTP network.
“This is another remarkable milestone for our young company. To have secured such a large FTTP network aligned to our core strategy which can be integrated quickly to grow our “core plus” infrastructure earnings is a wonderful way to end what has been a completely transformative year for Uniti Group,” Uniti managi ....

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