MEGAPORT'S REVENUE GATHERS PACE

Written on the 29 April 2016 by Brisbane Business News

MEGAPORT'S REVENUE GATHERS PACE
MEGAPORT (ASX: MP1) has provided a market update, revealing its monthly revenue is up 25 per cent from December.

The Brisbane-based elastic interconnection provider took in $247,601 for the month to March 31, up from $220,543 for the month to December 31.

All revenue was taken from the Asia Pacific region during the quarter, while the majority of the North American network was deployed over this period too.

Number of locations has increased from 46 to 59, ports from 504 to 641, and customers from 253 to 283.

Due to rapid expansion, the company is holding less cash, with $18.7 million in the till at March 31.

Megaport CEO Denver Maddux says this puts the company in a good position to execute its remaining pipeline of work.

Europe is now the focus, as well as revenue and staffing. 

"We are deeply focusing on business development efforts with critical cloud service providers which we expect will drive strong uptake in ports and Virtual Cross Connects (VXCs) within the enterprise vertical," says Maddux.

Megaport has added 20 new locations since 31 December 2015 and now operates out of 66 data centre locations.

All of the planned North American locations have been completed and services are now available in the eight metropolitan areas listed in the prospectus lodged November 2015. Rollout has also commenced in the 13 planned European locations, and Perth was the first Australian location to be activated on April 12, with others scheduled for launch on May 31.



Author: Brisbane Business News Connect via: Twitter

Latest News

COMMBANK FACES 'VERY LARGE' CLASS ACTION LAW SUIT OVER MONEY LAUNDERING SCANDAL

THE Commonwealth Bank is facing a potential massive class action from shareholders because of a big drop in its sh...

NATIONAL STORAGE LIFTS PROFIT AND REVENUE ON ACQUISITION PROGRAM, HIGHER CHARGES

NATIONAL Storage REIT (ASX: NSR) has more than doubled its after tax profit to $103.4 along with a 47 per cent lif...

REJECT SHOP THE LATEST IN A STRING OF RETAILER CASUALTIES

THE PROFIT margin of discount retailer The Reject Shop (ASX: TRS) has been hammered down 27.8 per cent following a...

VOCUS CHAIRMAN STEPS DOWN AFTER $1.5 BILLION LOSS, NO DIVIDEND PAYOUT

CHAIRMAN of Australian internet network company Vocus (ASX: VOC), David Spence, will step down after the company p...

Related News

COMMBANK FACES 'VERY LARGE' CLASS ACTION LAW SUIT OVER MONEY LAUNDERING SCANDAL

THE Commonwealth Bank is facing a potential massive class action from shareholders because of a big drop in its sh...

REPORTING SEASON WRAP: WEDNESDAY HIGHLIGHTS

The A2 Milk Company (ASX:A2M) has almost tripled its profits and increased total revenue by 56 per cent off the ba...

THE MOTHER OF THREE WHO HAS SHARK TANK'S ANDREW BANKS AND STEVE BAXTER FIGHTING TO INVEST WITH HER

NOT every entrepreneur on Shark Tank Australia convinces the 'sharks' that their business is worthy of inv...

DARK DAYS AHEAD FOR AUSTRALIAN RETAIL AS REPORT FORECASTS MAJOR INDUSTRY ROUT

ALMOST 1,600 retail businesses are at risk of imminent collapse, including 21 major retailers with turnovers of more ...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter