Christchurch Fibre Company Growing in Strength

Christchurch Fibre Company Growing in Strength

Christchurch-based fibre optic company, Enable Networks, has produced after tax profit growth of 235 per cent compared to normalised profit in the previous year, it reported at its Annual General Meeting today.

Enable Networks Chief Executive Steve Fuller says the company’s performance was particularly pleasing given how tough the economic climate has been during much of the year.

He says the company has remained focused on its revenue growth objectives and the expansion of coverage is on track to reach 85 per cent of Christchurch businesses by next year.

Enable Networks recorded a Net Profit After Tax of $448,000 in just its third year of operation, compared with a normalised profit of $192,000 in the previous year. Growth in revenues increased by 180 per cent as a result of increasing demand from customers and channel partners, extensive coverage and new products.

“During the first half of 2010 we delivered ultra fast fibre to 35 Christchurch schools with a further 53 contracted to connect, creating the largest and faster growing schools’ network in New Zealand,” says Steve Fuller. “This is an important investment in the future of our community and it has captured the hearts and minds of all those involved with driving innovative educational outcomes.”

Enable Networks’ innovation was recognised by TUANZ when Mr Fuller was named the 2010 ‘Innovator of the Year’ for the company’s innovation and success in developing the Christchurch schools network.

“In addition to focusing on our core business, this year we have invested considerable resources to plan and design a fibre to the home network and we have submitted a comprehensive proposal for the Government’s Ultra Fast Broadband project.”

“The year ahead is about building on the current business to achieve a position of strength, and determining the role Enable Networks can play in taking Ultra Fast Broadband to Christchurch homes.” says Steve Fuller.

ENDS

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