Macquarie Telecom Group has reported a 141 per cent lift in full year net profit and says it expects growth to continue in the current year.
Macquarie Telecom said net profit for the 12 months to June 30, 2010 came in at $17.93 million, compared with $7.45 million in the prior corresponding period.
Shares in Macquarie Telecom rose 30 cents, or 5.3 per cent, to $5.95 in morning trading.
Revenue fell two per cent to $238.12 million, Macquarie Telecom said in a statement on Thursday, as the company continued its "transition to higher-margin revenue".
Macquarie Telecom chief executive David Tudehope said the earnings results were in line with guidance.
The telecommunications provider offers internet services and IT systems to business and governments.
"Profitability in fiscal 2011 is expected to continue on a growth path, moderated by ongoing investment in operation and service excellence, and our hosting business," Macquarie Telecom said.
The company declared a fully franked dividend of 40 cents per share, comprising a 20-cent ordinary dividend and 20-cent special dividend.
AAP