Sharechat Logo

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

Thursday 20th May 2021

Text too small?

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

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

BIF - Acquires shares in Hot Lime Labs
RUA - Cann Group granted TGA GMP for Mildura facility
AFI - Invitation to Results Webcast
PFI Share Buyback Programme to Pause
Greenfern Industries Limited ("GFI") - Late Annual Report
FSF - Monthly Allotment/ Redemption Notice
1st July 2022 Morning Report
General Capital Releases 2022 Annual Report
Fonterra, NZX, EEX confirm GDT strategic partnership
BIF - Annual Report 2022