Preliminary Results for the Year Ended 31 August 2008
19 November 2008
2ergo is a leading provider of convergent mobile solutions in three key areas: business, entertainment and marketing. The Group’s technological expertise and innovative approach has led it to partner with some of the world’s most respected brands, across a broad range of sectors.
Through industry-leading products and solutions, 2ergo enables organisations to leverage the power of the mobile channel, imparting knowledge and insight to deliver results that directly enhance the bottom line.
The Group is pleased to announce Preliminary Results for the Year Ended 31 August 2008.
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2008
|
2007
|
% Change |
|
£'000 |
£'000 |
|
Revenue |
32,565 |
33,309 |
-2% |
Gross Profit |
9,769 |
8,614 |
+13% |
Pre-tax Profit |
3,446 |
2,592 |
+33% |
EBITDA |
4,104 |
3,223 |
+27% |
Basic earnings per share (1) Adjusted earnings per share (2) |
8.54p 8.54p |
8.58p 6.74p |
0% +27% |
|
|
|
|
(1) 2008 EPS based on 26% effective tax rate (2007:6%) |
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|
|
(2) Stated after applying 2008 effective tax rate to 2007 EPS |
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Highlights
• Increase in gross profit of 13% to £9.8 million (2007: £8.6 million)
• Gross margins up from 26% to 30%, ahead of expectations
• EBITDA up 27% to £4.1 million (2007: £3.2 million)
• Five year deal with O2 secured in the year
• Growing number of global clients
• Product sets relevant to current economic climate, with strong pipeline
• Significant cash reserves of £9.1 million at the year end and debt free
• Well placed to continue strong growth throughout coming years.
Neale Graham, Joint Chief Executive of 2ergo, commented: “I am pleased that our results this year again demonstrate consistent delivery against our aggressive targets. Moreover, I am delighted with the progress made during the year in moulding the business and management team in readiness for future growth. Our product set is now truly global, our management team have set out a clear strategy for future growth and our staff are aligned with this vision. Our growth opportunities are vast, strengthened by an extremely solid balance sheet and our proven ability to win clients with a global footprint such as O2.”
To download the full release click here.
For further information, please contact:
2ergo Group plc +44 (0)1706 221 777
Neale Graham, Joint CEO
Barry Sharples, Joint CEO
Jill Collighan, Finance Director
Tavistock Communications +44 (0)20 7920 3150
Lulu Bridges / Andrew Dunn
Numis Securities Limited +44 (0)20 7260 1000
David Poutney / Stuart Skinner
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