BigAir lifts FY11 ebitda forecast
- — 02 May, 2011 10:51
Fixed WiMax operator, BigAir (ASX:BGL), has upgraded its FY11 ebitda guidance by 30 per cent on the strength of its performance so far.
The company - which operates a network covering Sydney, Melbourne, Brisbane, the Gold Cost, Adelaide and Perth - now expects to post a full-year underlying ebitda of $5.2 million.
This would be a 63 per cent increase on the company's FY10 ebitda of $3.2 million.
BigAir said its consolidated revenues surpassed $1.9 million for the month of March, with $1.4 million earned by the fixed wireless division and the remainder from its student accommodation unit.
Underlying ebtida for March likewise reached $625,000, representing an annualised run rate of $7.5 million.
The company also expects to achieve more savings from the restructuring and integration of its recent acquisitions, including Clever Communications and AccessPlus.
BigAir estimated that a further $1.6 million in annualised cost savings will be realised over the next 12 to 18 months.
BGL shares fell 2.7 per cent during Friday's trading to $0.180.
