BigAir Group Limited announced its EBITDA profit for the half year ended 31st December 2008 was $849,414 an increase of $733,347 or 632% from the previous corresponding period. In addition the Company announces its maiden pre tax Profit of $416,098 for the period, an improvement of $1.7million versus the previous corresponding period.
The Company has now achieved 4 consecutive quarters of net positive cash flow and has finished the half year with $1.9 million in cash and no debt.
The Company has now completed its initial network rollout in Perth which expands its network reach to the West Coast adding to the existing coverage across the Sydney, Melbourne and Brisbane markets.
Construction is underway to expand the existing Brisbane networks to other major business centres within South-East Queensland and further rollout is planned in other states.
Despite the closing and loss of revenue from the iBurst resale business and the difficult market conditions the Company believes it remains on track to deliver previously forecasted full year EBITDA of $1.5 million.