"iiNet said its first-half net profit edged up 1 per cent to $29.5 million as it comes close to overtaking Singtel-Optus to become the No.2 Australian fixed-line internet service provider.
The company's total subscriber base for fixed-line internet services increased to 975,000 from 950,000 in mid-2014. By contrast, Optus last week reported its total number of internet customers had fallen to 988,000 in December 2014.
"When viewed over the last 12 months, iiNet has generated close to 50,000 broadband net additions, clear evidence of the success of the company's strategy," chief executive David Buckingham said."
IIN Price at posting:
$6.41 Sentiment: Hold Disclosure: Held