26th Feb 2007 08:50
eServGlobal Limited26 February 2007 eServGlobal Announces First Half Results, Revenue & Profit Growth. Sydney 26 February, 2007 eServGlobal Limited (LSE: ESG & ASX: ESV), a worldwide supplier of independentand flexible telecommunications Value Added Services for Messaging and Chargingsolutions, today announced its results for the six months ending 31 December2006. Sales revenue for the first half was $74.202 million, compared with $32.711million for the previous corresponding period, representing growth of 127%. AUD Six months to Six months to 31 Dec 2006 31 Dec 2005 Full Year 2006 Sales Revenue 74,202 32,711 95,004Cost of Sales 47,802 21,671 57,391Gross Profit 26,400 11,040 37,613Other Revenue 3 193 459Sales & Marketing Costs 6,579 4,747 11,513Administration Costs 10,802 4,796 16,471Total Opex 17,381 9,543 27,984EBITDA 9,022 1,690 10,088Depreciation 1,157 737 1,963Amortisation 3,523 0 3,164EBIT 4,342 953 4,961Interest Expense 133 57 489Profit before Tax 4,209 896 4,472Tax Expense / (Benefit) 1,942 719 1,820Profit after tax 2,267 177 2,652Less minority interest 64 (15) 68Profit attributable to members 2,203 192 2,584 Net Cash reserves at the half year were $3.326 million ($9.650million at 31 Dec,2005). Net assets increased to $113.399 million ($107.644 million at 31 Dec,2005). Mr Ian Buddery, Executive Chairman & CEO, said: eServGlobal has produced anexcellent first half result, ahead of our plan and with significant growth fromthe corresponding period last year. I am also particularly pleased to note theEBITDA margin performance of 12%, which reflects the success of our strategy toincrease software license revenue and reduce our implementation costs. Apartfrom the dividend payment in December, our cash position was affected by severalfactors, which we are now addressing. The cash balance is expected to improvesignificantly over the balance of the second half. Our revenue growth is underpinned by the rapid subscriber growth occurring forour customers in emerging markets and we expect this growth to continue in thesecond half and into the FY08 year. In addition, we have strong interest in ournew IMS solutions family, which addresses the fast developing nextgenerationnetwork environment. About eServGlobal eServGlobal (LSE: ESG & ASX: ESV) solutions enables Service Providers tomaximize todays proven revenue streams whilst ensuring service continuity andnew revenue opportunities when evolving to next generation networks. Over 75 ofthe worlds leading telcos are taking advantage of eServGlobals advancedsolutions and expertise to successfully address their business challenges and tomanage over 120 million mobile subscribers. As a global solutions provider, eServGlobal helps Carriers and Service Providersby providing turnkey solutions and enabling Multimedia Intelligent Servicesbuilt on a networkindependent, open and realtime architecture. All products are designed for fixed, mobile and NGN/IMS infrastructure:ChargingMax (Prepay to Convergent Charging), Top UP Suite (Voucher to ERetailerManagement), M@ilis (SMS Call Notify to Voice&Video Mail), MessageMax (from SMSDirect Routing to SMS AntiFraud), Mobility Suite (Locationbased & PresenceServices) and INMax (VPN, Number Portability, Service Numbers, etc). More information can be found at: www.eservglobal.com Ian Buddery Executive Chairman eServGlobal Limited This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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