Unwired Announces Revenue Increase

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Unwired Group has announced its revenue is up 46 percent for the half-year ending December 31.

The increase means operating revenue now sits at $15.8 million.

The wireless ISP also announced that expenses from operating activities decreased by 6 percent to $20.1 million while net loss improved by 20 percent to $14.7 million.

Expenses were decreased thanks to key movements such as an absence of spectrum lease rental expenses and fundraising expenses.

CEO David Spence says the company is pleased with its financial performance in the period.

“Our EBITDA continues to improve and we are well on the way to achieving positive EBITDA,” he says. “We have a solid cash position and are well advanced in our plans to transition to WiMAX in 2008.”