E-net posts first profit

 

Telecoms firm E-net said revenue rose 49 per cent in the year to April 30th 2010, and posted a profit for the first time.

The company, which also runs the State-owned metropolitan area networks, reported turnover of €13.9 million for the year, from €9.3 million in the previous year and the sixth consecutive year of double digit revenue growth.

E-net posted its first full-year profit at €1.7 million after tax. This compares to a loss of €900,000 a year earlier.

E-net chief executive Conal Henry said the results reflected a return on its long term investment in an open-access network. “We have demonstrated that networks can be operated in a way that is both economic and policy supportive,” he said.

“The future is open-access and E-net has now proven that it has the ability to deliver policy and profit in such an environment."

E-net employs 40 staff.