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Plexure Group Limited (NZX: PX1) Increases Revenue and Invests for Future Growth

Thursday 20th May 2021

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Mobile engagement and loyalty company Plexure has grown revenue during FY 2021, despite challenging COVID-19 conditions, and has raised capital to enable continued investment for future growth.

Highlights include:

• Revenue from existing customers up 15% to $29.15 million

• Recurring revenue (license and support fees) increased 14% to $18.3m

• Rate of growth slower than anticipated due to impact of COVID-19, although market conditions improved in second half of the year

• Loss of $7.93 million

• Capital raising to accelerate new product development and platform enhancements led to increase in operating cost base – up 53% to $36.94m

• Cash in bank of NZ$42.4m at year end after ASX listing raise and NZ Share Purchase Plan (SPP) to support future investment growth

Craig Herbison, Chief Executive Officer, said the financial results for FY21 were reflective of the company’s growth strategy, and represented a solid performance in a challenging environment. Mr Herbison said the company ended the year with $42.4m of cash at bank after raising $31.6m via a secondary listing on the ASX together with a further $5.0m from a New Zealand Share Purchase Plan (SPP). “We’re well-placed to continue with our growth strategy as we look to market recovery post COVID-19,” he said.

Please see the links below for details

PX1 Annual Report Announcement 20 May 2021

PX1 Annual Report 20 May 2021

PX1 Appendix 1 20 May 2021

PX1 Annual Report Presentation

Source: Plexure Group Limited



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