Enprise reports steady growth in half-year financial report
Enprise Group has released its half-year (until September 30, 2017) financial results, reporting strong year-on-year growth in revenue and profit.
The company lists its total half-year revenue at $4.7 million (an increase of 10.40%).
Breaking these figures down by country, Enprise says its Australian revenue has grown by 17% to $1.02 million and New Zealand revenue saw a 9% increase to $3.7 million.
Net profit for the period rose 22% to $393,000 and cash and bank balances were $265,000 at period end.
Elliot Cooper, Enprise Group CEO says, “In this period we grew revenue on both sides of the Tasman, completed a highly strategic acquisition and paid a shareholder dividend,” he says.
“The profit rise is the result of continued growth in the Australian and New Zealand markets combined with careful management of cost of sale.”
During the half-year, Enprise completed an acquisition of 47% of Kilimanjaro Consulting, a company which Enprise describes as Australia’s biggest MYOB enterprise reseller.
Cooper adds, “Synergies between our Enprise Solutions business unit and Kilimanjaro will further boost growth and reduce the cost of sale in Australia.
“Enprise Group intends to pursue additional investment opportunities to increase growth. These may be inside the MYOB channel or outside it, in synergistic businesses.”
During the period Enprise Group paid a 2017 final dividend of 3.5 cents per share.
The organisation is now focused on three businesses divisions – the wholly owned Enprise Solutions and joint ventures Datagate Innovation and Kilimanjaro Consulting.
The company reports that Enprise Solutions continues to experience steady profitability growth in both Australia and New Zealand, as the company provides business solutions based on the MYOB Exo and MYOB Advanced software platforms.
It also reports that it’s Kilimanjaro Consulting arm will leverage Enprise Solutions’ strong positioning across the region in the cloud business software market.
“Kilimanjaro customers now have access to ‘Enprise Cloud Path’, a service that ensures businesses chart the smartest path to the cloud,” Cooper says.
“The two companies are also working together to accelerate sales of the new cloud product MYOB Advanced as well as delivery of MYOB Exo via the cloud.”
Cooper also states that Datagate Innovation has proven its cloud-based billing engine in the New Zealand market, reflected by customers like Spark Wholesale and Dimension Data.
“Last month (Datagate) closed a successful rights issue, raising $683,710 of new capital in a move that will enable rapid expansion to capitalise on early success in the North American market,” he says.
In this period Datagate formalised an agreement for representation in the North American market as Datagate America and signed its first American customers.