Monday 30th August 2021
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Following the recent announcement of its intention to acquire Task Retail Pty Limited of Australia and its global subsidiaries (subject to shareholder approval), Plexure Group Limited, wishes to confirm its revenue guidance of NZ$45 to NZ$47 million for its financial year ended 31 March 2022. This includes 12 month revenue for Plexure and the statutory 6 months of Task revenue, assuming a transaction completion date of 1 October 2021.
The combination brings together two companies operating on different financial year cycles. To correctly reflect the forward value being attained by Plexure through the acquisition of Task, the combined FY22 forecast revenue on an annualised basis is NZ$59 million. This is comprised of Plexure’s forecast revenue for the financial year ended 31 March 2022 of $NZ30.3 million and Task’s forecast revenue of NZ$28.7 million for the financial year ended 30 June 2022.
Task primarily generates its revenue from recurring software licence and maintenance fees, hardware sales and professional services. Software and services revenue represented 79% of Task’s total revenue in FY21.
The combination will bring material additional recurring revenue, a large identified pipeline of new clients, and cross-selling revenue opportunities. It will also significantly lessen Plexure’s revenue dependency on McDonald’s post acquisition – after FY22, McDonald’s revenue is expected to represent less than 50% of total group revenue on an annualised basis.
Please see the link below for details
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