Melbourne IT has reported strong growth in their business, and expects this growth to continue for the rest of 2007, after it more than doubled net profit for the first half of 2007 according to reports from AAP.
AAP reported Melbourne IT “posted a 145.4 per cent increase in net profit for the half year ended June 30, to $6.52 million, which excluded a one-off gain from the sale of the company’s 10 per cent stake in .biz registry, Neulevel.”
“We expect to see continued strong growth in our business over the remainder of 2007, with profit in the second half expected to outperform our first half results,” Melbourne IT chief executive Theo Hnarakis said.
“The evolution of the internet is continually presenting us with opportunities to grow our business,” he said. Further, “this is another very positive result for Melbourne IT, reflecting continuing successful organic growth from our key divisions as well as validating our ongoing strategy to accelerate growth in our business through strategic acquisitions.
Melbourne IT’s news release (click here) has detailed information on their results or there is a presentation on their first half results (click here).
For Australian Associated Press (AAP) reports, see The Age, Sydney Morning Herald or The Australian.
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