iiNet s advertising campaign.
iiNet's advertising campaign.

UPDATE 2.55pm: Perth-based ISP celebrated its first year of revenue topping $1b on the back of growing market share.

The internet service provider posted a bottom line profit of $63 million, up 3 per cent on the previous year.

But its underlying profit was up 19 per cent to $65.8 million.

The company declared a final dividend of 13 cents, fully franked, bringing its full-year dividend to 22 cents, up 16 per cent on the previous year.

iiNet chief executive David Buckingham said the strong results were the result of the company delivering on its strategy of growing market share and improving margins.

"Having successfully acquired and integrated a number of complementary businesses over the past few years, the company is now focused on growing organically and maximising its operational performance," he said.

"We know that our focus on delivering the very best products and service to our customers is the right strategy for organic growth.

"Over the past year we reached our all-time high net promoter score of 60 per cent, added 40,000 net new broadband customers and continued to grow our business customer revenues to $204 million, now 20 per cent of total group revenues."

iiNet paid tribute to departing founder and chief executive Michael Malone who retired from the company in March after 20 years. He started the business in his parents' garage.

Shares in iiNet closed down 10 cents, or 1.21 per cent, at $8.15.

The West Australian

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