Re-affirms Guidance and COVID-19
Sydney, Mar 19, 2020 AEST (ABN Newswire) - MNF Group Limited (
ASX:MNF) (M2S:FRA) continues to actively monitor the impact of COVID-19 on its team and trading, with the health and safety of its people and customers the highest priority.
MNF advises that the company is currently experiencing strong demand for core products across its three operating segments - Global Wholesale, Domestic Wholesale and Direct. The key product in demand is Australian based phone numbers, which are used for collaboration and conferencing applications. MNF is also currently experiencing higher than normal usage volumes across all segments.
The company is working closely with key customers in Australia and overseas to prioritise requests for additional capacity, capabilities and resources.
At this time, the company reaffirms its stated FY2020 EBITDA guidance of $36.0 million to $39.0 million.
MNF acknowledges that the situation is evolving rapidly and currently there is strong demand for MNF's services, but the external environment remains uncertain.
As at 31 December 2019, MNF held $38.6 million of cash and had undrawn committed debt facilities available of $30.0 million.
The company has instigated its business continuity plans where all employees will be capable of working from home using MNF's own collaboration products and technology to operate the business remotely.
The company will update on any further trading and operational developments as they occur.
About Symbio Holdings Limited
Symbio Holdings Limited (ASX:SYM) is a software company changing the way the world communicates.
Symbio's technology replaces old-fashioned telecom networks with software, making it faster and easier to deliver modern cloud-based communication services, unlocking endless new applications for calling, messaging and phone numbers.
Symbio is the backbone for the global cloud communication industry. Over 500 service providers - from telecom start-ups to the world's biggest software companies - rely on Symbio for the connectivity, quality and expertise they need to solve complex communication challenges.
Headquartered in Sydney, Symbio powers billions of calls and messages each year, owns networks in three countries and employs over 450 staff worldwide.
For more information about Symbio visit www.symbio.global
| ||
|
