September 6, 2005 — (WEB HOST INDUSTRY REVIEW) — Reports from Australia say that country’s largest Web hosting group, WebCentral (webcentral.com.au) announced a rise in net profit of 219 percent, to $5 million Australian, in the first year since buying out its main operating business, WebCentral Pty Ltd.
WebCentral says its full-year revenue increased 336 percent to $58.4 million after the July 2004 buyout. Along with it came a 16 percent increase in underlying growth.
The company’s chief executive, Andrew Spicer, says the first year following the acquisition saw the company produce an extremely strong financial result, but also grow into a stronger, more scalable company.
In July 2004, WebCentral’s founders sold their stake in the company to FTR Holdings for $38.7 million. FTR subsequently changed its name to WebCentral Group.
