Aussie Broadband shares lift on strong Q1 performance
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The news: Aussie Broadband has reaffirmed its full-year earnings guidance after a strong first quarter performance, boosting its shares.
The numbers: The group said overall broadband connections in the three months to September rose 21% from the prior quarter to 22,119, with its NBN market share improving to 7.6% from 7.38% at June-end.
Aussie Broadband shares were up nearly 5% to $3.96 in early trading on the ASX.
The context: The group said the strong growth in broadband was boosted by its recently-launched no-frills service from subsidiary brand Buddy Telco.
Managing director Phillip Britt said the telco had also made inroads into the government and enterprise sector with a number of key contract wins during the quarter.
The company reaffirmed its full-year earnings guidance of $125 million to $135 million. It will hold its annual general meeting later on Friday.
The source: ASX announcement
