Key Highlights

• Total group operating revenue $51.9m, up 27% on FY22.
• Full year underlying EBITDA of $4.8m, up 17% on FY22. Results include a full year of operations from Switched On and onPlatinum, both acquired in FY22.
• Group Gross Margin stable at 47%.
• Run-rate (annualised) revenue now in excess of $51m.
• FY24 revenue is anticipated to be in the range of $53m to $55m.
• FY24 underlying EBITDA is anticipated to be in the range of $6.5m to $7m.

Group CEO Peter McGrath said, "FY23 has seen another year of positive revenue and profit growth for Comms Group. Following some key acquisitions over the last two years, management attention in FY23 focussed on extracting synergies and reducing costs where possible, to maintain our strong gross margins and enhance profitability into FY24. A large emphasis during the year has also been on developing our Global division, continuing to expand its capabilities and global coverage, that’s now leading to meaningful revenues flowing from our contract with Vodafone Business and other new contracts."

For more information regarding this announcement, please view the ASX Release posted 23 August 2023