01 Aug ASX ANNOUNCEMENT: FY2018 Unaudited Results Update
Pureprofile Limited (ASX: PPL or the Company) provides an update to its unaudited FY2018 performance ahead of the release of its Appendix 4E and preliminary financial results.
Key points include:
- Total revenue for FY2018 of $52.1m was down by 2% compared to FY2017*.
- The average Gross Margin for FY2018 was 47%, down from 48% in FY2017.
- However, H2FY2018 gross margin performance (50%) improved strongly on H1FY2018 gross margin (44%).
- EBITDA for FY2018 was $0.5m, down from $0.7m for FY2017.
- However, EBITDA for each of the four months to June 2018 was positive and totalled $1.2m.
- The increase in Gross Margin % and EBITDA in the second half reflects management’s increased focus on selling higher margin services where Pureprofile has stronger competitive advantages.
FY2019 – Revenue & Margin Focus
In FY2019, Pureprofile’s management team will continue to focus on cost control with the recent appointment of its new CFO. Further margin improvements are expected to be realised through targeted revenue growth, enhanced by the appointments of the Company’s new Head of Revenue and Operations (ANZ) and Managing Director UK/EU in revenue-focused roles.
Pureprofile will release its preliminary full-year results in late August 2018 and it will provide a detailed review of its FY2018 results at that time.
*FY2017 revenue includes the contribution from the Cohort acquisition for approximately 8 months.