5G Networks Limited (ASX: 5GN) is into the telecommunication services sector. It is into the business of providing services related to data networking, cloud and Hosting Services and other managed services. This company was listed on ASX in the year 2017.
The company today on 21 March 21, 2019, announced that it has officially launched its nationwide high-speed Managed Data Network (MPLS) to the Australian market. Since the ASX listing in November 2017, the company had a clear strategy of the launch of a nationwide MPLS network. This is a significant milestone for the company and its continued strategic execution. The national network allows 5GN to extend its fibre and wireless network to its customer base with controlled capital expenditure, swapping out third party services with its network.
The company’s focus is on the growth of its data network services by enhancing and integrating the existing 5GN fibre and fixed wireless networks. The fully operational data network with dedicated speeds up to 10GB to customers will mesh secure and private access to existing Cloud, Hosting and Managed Services with seamless connectivity to all 5GN Data Centres.
The Managing Director of the company Joe Demase said that it is a very exciting day for the company, its customers and shareholders. The company is proud that it could build a fully operational network, with an MPLS backbone spanning coast to coast. He also stated that, it is also important that the company is continuing to invest in infrastructure to deliver the commitment of seamless digital services for the customers. He believes that it is a matter of pride for the company that this network has a back-up of a well-recognized heritage of market leading engineering expertise coupled with Australian based service support. The fully operational network will help the company to drive continued growth of the top-line along with the EBITDA by accelerating the current data network revenue growth rate of 112% (FY18H2 to FY19H1), in addition to reducing dependency on third-party network providers.
As per Garry White, the National Sales Director of the company, 5GN is having the strengthened capability as a key partner in supporting the digital transformation of our customers. Also, the company understands that the growing demand for managed network connectivity needs to be supported by flexibility, diversity and choice, combined with local support. 5GN is committed to providing the required support for its current and prospective customers.
Now let us quickly have a look at the performance of the stock of 5G Networks Limited and the returns it has produced over the past few months. The stock is currently trading at $0.805 increasing by ~8.78% during the day's trade, with a market capitalization of $37.9 million (AEST 04:00 PM). The stock opened at $0.770 which is the day’s low as well; however, it touched a day high of $0.840. It has a 52-week high price of $0.840 and a 52-week low of $0.375, with an average trading volume of 81,318. The company has generated a significant YTD return of 76.19%, with a return of 37.04% during the last six months.
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