Latest Comms (ASX:CCG) News

Comms Group delivered FY25 results at the upper end of guidance, boosted by record new sales and the acquisition of TasmaNet. The company sets sights on accelerated growth and integration benefits in FY26.

Comms Group Limited reported a 2.1% revenue increase to $56.6 million for FY25, driven by organic growth and the strategic acquisition of TasmaNet. Despite this, underlying EBITDA declined 13.6%, reflecting investments and one-off revenue adjustments.

Comms Group Ltd launches a $7 million capital raising, including a fully underwritten entitlement offer, to acquire Tasmanian IT services provider TasmaNet, aiming to boost its revenue and market reach significantly.

Comms Group Limited announces a strategic $10 million acquisition of TasmaNet and select assets from Field Solutions Holdings, alongside a $7 million capital raise, targeting a proforma FY25 revenue of approximately $75 million.

Comms Group Limited has inked a binding agreement to acquire TasmaNet, a leading Tasmanian communications provider, significantly expanding its network assets and customer base. This strategic move is expected to lift Comms Group’s proforma revenue to around $75 million and EBITDA to $9-10 million annually.