After seven years in business 2degrees is in the black. The company reports a profit of $13.4 million for the 2016 financial year which ended in December. That compares with a loss of $33.1 million a year earlier. Revenue was a shade over $700 million.
The result comes on the back of fast growth in mobile and in broadband. Chief executive Steward Sherriff says the number of post-pay mobile customers is up 19 percent. These tend to be higher spending than the pre-pay customers; the company’s focus in its early history.
Broadband performed even better. Customer numbers doubled in 2016. It was the company’s first full year of offering a full broadband service after acquiring Snap in 2015. That move turned the mobile carrier into a full-service telco. This allowed 2degrees to sell services to government departments. It also made its mobile offering more attractive to business users wanting a one-stop service provider.