February 23, 2008 – (HOSTSEARCH.COM) – Although revenue and profit increases will not match those of last year, Melbourne IT still predicts more sales and earnings growth in 2008, it was reported recently. The company has increased capital investment and is now considering acquisitions.
Melbourne IT’s purchase of web hosting firm WebCentral has been key to its continued good figures. The company will reactivate its dividend re-investment scheme to generate funds for future purchases.
"There's no question that we've benefit significantly in the last 12 months from the acquisition of WebCentral," explained Theo Hnarakis, CEO of Melbourne IT. "However, Melbourne IT is positioning itself to crystallize opportunities both here and offshore and I have great confidence that we'll be able to continue our growth rate. I'm not sure at the same percentages but certainly we expect to have good growth for 2008. We're also cognizant that we don't want to be a one hit wonder so we have to reinvest back into the organization."
Revenue for the company’s domain registration business revenue increased 23% to $60.4 million and its consumer division sales increased by 36% to $41.3 million. Revenue from the company’s corporate and government division increased from $4.8 million to $23.3 million, while sales for ForTheRecord (FTR - recording software for courts and the police) totaled $10.6 million.
