In line with its pursuit of further growth and expansions, telecom company iiNet Ltd (ASX: IIN) announced on Monday that it gained a 2010 full year net profit of 35 percent to $34.55 million, coming from the $25.63 million garnered in the previous corresponding year.

The company said that its revenue also went up by 13 percent en route to $473.8 million in the same year, prompting for the final dividend distribution of six cents per share and fully franked, pushing the full year payment to nine cents from the eight cents awarded on the previous year.

iiNet chief executive Michael Malone hailed the fresh figures as a good result for the company, which recently acquired Netspace and AAPT for a total DSL internet market share improvement of 15 percent.

The telecom company took over AAPT's consumer division from New Zealand's Telecom Corporation for $60 million in July to buttress its previous acquisitions of Netspace in March and Westnet in May 2008 for $40 million and $81 million respectively.

Mr Malone declared that all three purchases have well positioned iiNet "on a rapid path towards becoming the clear leading challenger brand in our sector," as he added that the Westnet integration was all wrapped up and the company is currently working on Netspace's and AAPT's absorption into iiNet's business operation.

iiNet revealed that its broadband customer base improved from 20 percent to 28 percent for a total of 539,000 subscribers following the takeover of Netspace.

As of 1159 AEST on Monday, iiNet shares were trading at $2.67, picking up gains of seven cents or 2.69 percent from previous trading day.