Plexure increases revenue by 54% and decreases loss by 93%
14/11/2017, 8:46 am INTERIM
For the six months ended 30 September 2017, Plexures total revenue grew 48.8% to $5.4m. During the same period operating revenue grew 54.4% to $5.2m, reflecting the growth in the underlying business.
As we have previously signalled we have also been focussed on streamlining the business. As a result, all expense categories, with the exception of contractors (which increased $10k) and amortisation ($129k) decreased. Operating expenses decreased by 22.9% or $1.7m, to $5.6m.
The combination of increased revenue and decreased costs has resulted in a 92.9% improvement in the bottom line, with a total comprehensive loss of $0.3m for the period, compared to a loss of $3.3m in the prior year.
The improved financial performance means that the operating cash burn for the first 6 months was $0.1m. With the capital raise of $1.9m, the Company finished the period with cash and cash equivalents of $2.4m.