Bendigo Telco has announced a profit of just over $1M, and strong accompanying cash flows, despite a decrease in revenue over the past financial year.
The listed company (NSX: BCT) posted a total dividend of 13.5c for the financial year.
The final profit of $1.03M was slightly down on the previous year's figure of $1,064,822.
Chairman Rob Hunt said the group had continued to produce sound results in a challenging and competitive market.
"Over the past year Bendigo Telco has refined its priorities, strategic approach and core operating model to ensure that we could continue to deliver quality customer and community outcomes in an evolving and challenging technology marketplace.
And while the coming year will continue to present both opportunities and challenges, we are confident that our strategy will continue to deliver strong results for our shareholders and communities."
Gross revenue decreased 12.3 per cent from the prior year to $29,718,095, while the company's gross profit margin decreased 6.9 per cent to $15,556,590.
EBITDA decreased 11 per cent to $4,187,803.
Reflecting on the past year, managing director Kevin Dole said the result reflected the company's investment in transforming its technologies to prepare for new product and service offerings.
"We have been investing heavily in the way we engage with customers, the products we offer and services we deliver to grow our regional communities.
"Technology is a fast moving industry and we need to be responsive to the needs of our customers, especially as they navigate this new world of remote working and online services."
Mr Dole said Bendigo Telco had 'redefined' its management and operational priorities to balance the organisation's key focus areas.
"This is to ensure that the appropriate level of attention and growth opportunities can be achieved and maintained.
"By focusing on the delivery of quality customer outcomes across existing capabilities and introducing new product and service initiatives, we are on track to deliver results for the company, and importantly for the communities in which we operate."
Bendigo Telco was established more than 20 years ago by locals determined to deliver local benefits and grow regional businesses.
The company aims to improve regional access to telecommunication and technology solutions, in terms of price, priority, competition, and access to essential infrastructure.
From its Bendigo head office it operates five regional offices in Bendigo, Ballarat, Hobart, Launceston and Geelong servicing customers across the country.
A percentage of all customer revenue is reinvested in local community enterprises, which saw more than $50,000 in FY21 donated to support initiatives across Victoria and Tasmania.
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