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Amcom AGM - Chairman Tony Grist with chief executive Clive Stein. Picture: John Mokrzycki The West Australian. 27th Nov 2009. FAIRFAX ONLINE OUT.
The West Australian Amcom AGM - Chairman Tony Grist with chief executive Clive Stein. Picture: John Mokrzycki The West Australian. 27th Nov 2009. FAIRFAX ONLINE OUT.

Data communications company Amcom has delivered on it promises of a 20 per cent lift in first-half profit to $10 million and says it is on track to lift full-year profit by the same percentage.

The result was achieved on revenue of $80.1 million, up 43 per cent on the previous corresponding period.

Earnings per share were up 17 per cent to 4.1 cents.

The figures do not include the one off $16.6m profit arising on the in specie distribution of iiNet in the previous corresponding period.

The company declared an interim fully franked dividend of two cents a share, up from 1.8 cents in the previous corresponding period.

Amcom attributed the uplift in earnings to strong organic sales growth from Amcom's core data networks (fibre) and expanded hosted and cloud services offerings.

"The broadening of the company's product range will drive continued earnings growth going forward," the company said in a statement.

"Amcom's operating momentum from the first half of this financial year has continued into the second half whilst maintaining a disciplined approach to winning new annuity style business.

"The company's financial position is strong with ample balance sheet capacity to fund future growth initiatives."

Amcom shares were steady at $1.505 at 7.40am after touching an earlier high of $1.54.