Macquarie Telecom Group claims its preliminary full year results have come in above guidance. The company expects its earnings before interest, tax, depreciation and amortisation (EBITDA) for the fiscal year to June 30 to range from $28 million to $29 million. Previous EBITDA forecasts for the financial year were $26 million to $28 million.

"This result supports the strategic direction we have taken as we build momentum in our higher margin hosting business," Macquarie Telecom chief executive David Tudehope said in a statement.

"Over the next fiscal year we intend to invest approximately an additional $15 million over our current capital expenditure run rate to expand our hosting capacity to support growth in this business."

Founded in July 1992, Macquarie Telecom is one of Australasia's first deregulated telecommunications companies. It delivers a range of telecoms hosting, data, voice and mobile services primarily to the business and government market.

The company said it had cash and cash equivalents worth $56.3 million at June 30.

The preliminary results remain subject to final review by the company and external auditors, while the final data will be announced on August 26.
Macquarie Telecom shares are suspended at $4.50.