e|net Posts 30% Revenue Growth In 2008/9

Press release
28th Aug 2009

e|net, the company which holds the concession to manage, maintain and operate the State’s Metropolitan Area Network (MAN) programme across 93 cities and towns has today announced strong financial figures for the year to 30th April 2009.

In its fifth year of trading, e|net had a turnover of €9.4 million for the year, ensuring that the company has completed its fifth consecutive year of double digit revenue growth. This figure is up from the €7.2 million achieved in the previous financial year.

Referring to the financial performance, e|net CEO, Conal Henry, stated, “e|net has continued to deliver against our financial targets with strong, consistent and on-plan growth. A turnover of €9.4 million represents significant growth and development, particularly in light of difficult trading conditions”. He went on to say, “Importantly, e|net has been trading on an EBITDA positive basis for a significant amount of time and is now operating on a month-to-month net profitable basis”.

The current financial year will see e|net bringing almost all the Phase 2 MANs, for which it recently signed a management contract with the Government, to market and the company expects this, combined with further growth in the Phase 1 MANs towns, to ensure that it will achieve yet another year of double digit revenue growth and book a profit for the full year.

e|net currently employs 37 staff and partners with leading telecoms service providers such as BT, Vodafone, Verizon, Smart Telecom and UPC among others.