Melbourne IT doubles annual profit

Melbourne IT Ltd is expecting strong growth for the rest of 2007 after the domain name registry business more than doubled first half net profit writes AAP. Melbourne IT posted a 145.4 per cent increase in net profit for the half year ended June 30, to $6.52 million, which excluded a one-off gain from the sale of the company’s 10 per cent stake in .biz registry, Neulevel.

AAP stories on Melbourne IT’s results are available from:,24897,22282332-15306,00.html

Also see:
Melbourne IT achieves strong growth in first half 2007 [news release]
Melbourne IT Limited announced a strong result for the half year ended 30 June 2007, reporting an 84% increase in revenue to $77.3m and a 167% increase in earnings before interest and tax (EBIT) to $9.1m against the first half of 2006. [pdf of presentation]