FX Networks moves into profit

Revenue growth strong in network company's second year

FX Networks has reported audited turnover of $25.15 million for its financial year ended March, compared with $9.34 million the previous year.

EBIDTA was $5.39 million ($919,000), and net profit after tax was $2.08 million (negative $152,000).

The gross margin was 36.6% compared with 32.6% the previous year.

It was the company’s second full year of operation, during which it spent $24 million laying fibre.

FX Networks and Datacraft this week were formally announced as the winners of a Department of Internal Affairs tender to provide a replacement for the failed Government shared Network.

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