Network and communications state-owned enterprise Kordia has improved group revenue in the 2007 financial year by 31% over 2006, the company announced today.
Revenue grew from $201 million in 2006 to $264 million. The net surplus for the year was $11.9 million, up from $9.8 million.
Kordia acquired retail internet service provider Orcon after its financial year balance date.
Kordia chairman Wayne Brown reports progress on both sides of the Tasman as well as in Asia.
“Kordia in Australia has diversified its customer base, and has developed some pleasing new initiatives in coverage solutions and other areas which are showing promise," he said in a statement today.
“In New Zealand, we are building on our existing infrastructure to deliver digital television (both satellite and terrestrial), as well as launching services like Metro wi-fi, and trials including Digital Audio Broadcasting (DAB) and mobile TV.
“We have expanded the business into Thailand with a Joint Venture, and have contracts in Saudi Arabia, Malaysia, the UK and elsewhere through our specialist consultancy services."
The company's report (pdf here) states that Orcon is being operated at arm's length as a wholesale customer, under the same terms as other retail service providers.