MNF Group Ltd (ASX:MNF) Signs Term Sheet with Vonex
MNF Signs Term Sheet with VonexSydney, June 7, 2021 AEST (ABN Newswire) - MNF Group Limited (
ASX:MNF) (M2S.F) today announced that it has signed a conditional term sheet with Vonex Limited (
ASX:VN8) ( Vonex ) for the sale of part of its direct business ( Direct Business ), for $31 million. The term sheet is non-binding other than customary matters including exclusivity.
The sale is in-line with MNF s strategy to simplify the business, grow recurring revenues and focus on growing the MNF wholesale business, Symbio.
The Direct Businesses that form the sale agreement include those that provide cloud phone, mobile and internet services directly to small business and residential customers in Australia. These customers are predominantly served by the MyNetFone brand; however the brand is not part of the sale and MNF will retain the Enterprise and Government clients.
MNF Group Ltd (ASX:MNF) H1 Strong Result Across All Key Metrics
Strong result across all key metrics - On track to deliver FY21 EBITDA of $40m - $43m
H1 Strong Result Across All Key MetricsSydney, Feb 23, 2021 AEST (ABN Newswire) - MNF Group Limited (
Highlights:
- Recurring revenue rose 15% to $55.7 million (H1 FY20: $48.3 million) as a result of growing wholesale revenue
- EBITDA increased 16% to $19.6 million (H1 FY20: $16.9 million)
- Phone numbers up 24% to 5.1 million (H1 FY20 4.1 million) due to strong organic growth
- Net Revenue Retention (NRR) rate across top 10 customers was 115%
- Underlying NPAT-A increased 30% to $8.4 million (H1 FY20: $6.5 million)