Service Stream: Experiences significant growth in profitability
- Network services company Service Stream (SSM) has today announced a significant profitability growth and an increased dividend
- The company’s H1 FY20 EBITDA was up 50 per cent to just over $58 million from the previous period
- Service Stream also saw growth in its telecommunications and utility sectors
- Service Stream then increased both its net profit after tax (NPAT) by 28 per cent to $32.2 million
- Revenue for wireless operations was also down 37 per cent due to the slow ramp-up of mobile carriers using and changing to 5G
- Service Stream believes that nbn service volumes will continue to increase as the network expands and gains popularity
