On 27^th February Vocus announced its 1H19 earnings. Revenue increased slightly but EBITDA and profits remain on a downward trend.

Key results in the Enterprise, Wholesale and Government segment include:

• Overall revenues increased 27% from 12 months ago, largely driven by project revenues from the Coral Sea cable build, which is due to be completed by the end of 2019

• Recurring revenues increased by 6%, supported by:

  • Improvement in new business growth across the division due to increased investment in sales

  • Implementation of account management functions to support growth opportunities within the existing customer base

  • Successful delivery of Australia Singapore Cable and conversion of the built-up demand

  • Strong growth in wholesale NBN SIO’s based on core value proposition and new products

Consumer and business segments saw large declines in revenue and SIOs.

In a year of “resetting”, Vocus faces the difficult challenge of extracting value out of its fibre assets through enterprise projects and transforming its Consumer segment with a renewed focus on mobile and wireless.