Forecast half year revenue up 52% & net loss decrease by 89%
9:09am, 6 Sep 2017 | MKTUPDTE
As part of the Annual Meeting today Plexure Group Limited (PLX) will release guidance on its half year results for the 6 months ended 30 September 2017. Operating revenue for the 6 month period 30 September 2017 is forecast to be $5.1m, compared to $3.3m for the 6 months ended 30 September 2017, an increase of 52%. The net loss after tax is forecast to be a $0.4m compared to $3.7m for the same period last year, a decrease of 89%. Revenue has continued to grow through the first 5 months of the current financial year while costs have continued to reduce.
PLX has also given previous guidance that it will be cashflow positive by the end of the financial year. This will now occur from the month of September. In the first 5 months of the financial year the average burn rate was approximately $0.17m per month including a number of one offs associated with restructuring.