Perth telco takes aim at ADSL profit

Swiftel is gunning for a maiden profit of $1.48 million on $15.7 million in revenue, backed by a strong ADSL broadband division.

The ASX-listed company claimed its Sydney operations have netted 2,500 ADSL customers since February.

“If growth continues to meet industry expectations, the company is budgeting for 7,000 customers by the end of the calendar year and 14,500 customers by June 2004. The current takeup of the Swiftel ADSL product has risen significantly from 60 in February to 800 new customers being signed in July,” the company said in a statement to the ASX.

A customer base of 7,000 by December 2003 would equate to a 1.2 percent market share, the company added.

“This is a conservative estimate and on current evidence is likely to be exceeded,” Swiftel said.

Swiftel further claimed to be “one of Telstra's fastest ADSL resellers”, arguing that customer satisfaction was the reason for its success.

Swiftel has 30 resellers or agents for its ADSL service.

Most recently, the company signed a deal with People Telecom to give Swiftel access to People Telecom's 12,000 voice customers and ability to offer fixed line and mobile services to its own customer base.

The company has 150 corporate customers and an annualised revenue of $4.5 million.