amaysim has posted a profit as it prepares to launch its broadband service

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Mobile sim card company amaysim has posted a 10% rise in half year underlying profit after tax of $8.34 million as its gets closer to launching broadband services.

Revenue was up 16.5% to $136.64 million for the six months to December as the company grew its mobile subscriber base by 59,000 to 1.03 million.

“The success in our mobile business has positioned amaysim to continue to grow share of household wallet by acquiring new subscribers, while expanding our focus to become a multi-vertical company,” says CEO Julian Ogrin.

“We are excited to complement our competitive mobile products with a compelling broadband offering.”

Source: amaysim

The telco, which listed on the ASX in July 2015, will launch a broadband offering in the next 90 days with an initial focus on its 1.03 million subscribers aligned to the NBN rollout.

“Building on the principles of value, transparent pricing and inclusions and a superior customer experience, we will launch three simple NBN plans under the amaysim brand,” says Ogrin.

Ogrin says full year underlying EBITDA (earnings before interest, tax, depreciation and amortisation) for the mobile business is expected to grow to between $42 million and $44 million.

The company declared an unfranked dividend per share of 4 cents a share, up 33%.

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