Enable Networks has reported an after tax net profit of $448,000 in its third year of operation. Last year's tally came to $192,000.

The company has said the growth is a result of increasing demand from customers and channel partners, extensive coverage and new products.

“During the first half of 2010 we delivered ultra fast fibre to 35 Christchurch schools with a further 53 contracted to connect, creating the largest and faster growing schools’ network in New Zealand,” said Chief Executive Steve Fuller. “This is an important investment in the future of our community and it has captured the hearts and minds of all those involved with driving innovative educational outcomes.”

Fuller says the firm is focused on the expansion of coverage to reach 85% Christchurch businesses by next year.

“In addition to focusing on our core business, this year we have invested considerable resources to plan and design a fibre to the home network and we have submitted a comprehensive proposal for the Government’s Ultra Fast Broadband project,” he added.

“The year ahead is about building on the current business to achieve a position of strength, and determining the role Enable Networks can play in taking Ultra Fast Broadband to Christchurch homes.”