Speaking at a media briefing in Midrand, Joshi said that Neotel’s national fibre network now stretches over 12,000km while the company has laid over 6,500km of metropolitan fibre. Joshi added that Neotel plans to light up another 2,000km of its national fibre network in 2012.
The success of Neotel’s network growth is reflected in the company’s increase in customer numbers. The company announced that it grew its business customer base by 50% and doubled the number of residential customers in the last financial year.
Neotel currently has 100,000 broadband users, and the company is planning to grow this subscriber base to 150,000 within the next year.
Sunil Joshi, MD & CEO of Neotel, said, “Neotel is proud to announce 25% year-on-year revenue growth. We have continued to see improved asset utilisation and increased productivity within the company with EBITDA improving each quarter since Neotel turned positive in Q2 FY12.”
“Everything we do at Neotel is because we believe in challenging the status quo and in doing things differently. We do this by designing easy and simple to use communication products and services for our customers. We will continue enabling our customers through efficient and cost-effective telecommunications and by being a catalyst for their global expansion plans. An area of great focus for us this year will be that of further improving our customers’ experience.”
“Our business focused on four priorities at the start of the financial year (ending 31 March 2012); to improve customer experience, grow revenue and market share, become profitable and be passionate about our people. The results are a testimony of the tremendous efforts from Team Neotel led by an experienced leadership team in making progress on each of these imperatives,” said Joshi.