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iiNet Limited (ASX:IIN) says its full year net profit rose 11 per cent to $37 million, boosted by a series of acquisitions.
The internet service provider’s result was aided by a 19 per cent increase in revenue from ordinary activities and a 38 per cent jump in underlying earnings.
CEO Michael Malone has described the past year as transformational with expansion through two acquisitions and operational initiatives.
Mr Malone believes the company is well positioned to provide shareholders with growing returns with substantial growing cashflows, a strong balance sheet, growing dividends, and attractive growth opportunities.
A final fully franked dividend of 8 cents per share has been declared, bringing the final payout to 14 cents per share.
