Enet, the company which runs the Metropolitan Area Networks (MAN) broadband network project on behalf of the State, has reported its first full-year profit.

The company said it made an after-tax profit of €1.7m in the year to April 30, following a loss of just under €1m a year earlier. Revenue grew by almost 50% to €13.9m.

Enet currently employs 40 people. It said it was aiming for another year of double-digit percentage growth in revenue and increased profits.

The MAN project covers 93 towns, and Enet provides products and services to telecoms operators on a wholesale basis.