2ergo Upbeat After “Strong Results”
- Tuesday, November 24th, 2009
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2ergo has announced its results for the year ended 31 August 2009. While revenues were down 30% at 22.7 million compared to 32.6 million in 2008, gross profit was 11% up at 10.9 million. Pre-tax profit rose by 11% to 3.8 million, partly as a result of the companys strategy to reduce its exposure to high-volume, low-margin wholesale distribution business. When a 3.2 million impairment charge (a write-off of worthless goodwill) relating to an initial investment in Broca plc is taken into consideration, however, the final pre-tax profit figure is 0.6 million.
But 2ergo Joint CEO Neale Graham is in confident mood. He says:
It is pleasing to deliver yet another set of strong results, particularly over a period of global economic uncertainty. In addition to achieving organic growth, the management team has made great strides globalising and scaling the business by developing 2ergos services in targeted geographies, together with the completion of three strategic acquisitions
The evolution of mobile technology mirrors our original strategy and it is rewarding to see the 2ergo technology, which has been 10 years in the making, really come alive. Now is the time to build on our success, invest in the future, and maximise these global opportunities. There has never been a more exciting time to be in mobile.
2ergo provides mobile-enabling technologies in four key: business, entertainment, media and marketing. Its Multiserve Platform forms the intelligence and billing layer between mobile network operators, the Internet and customer-facing applications, integrating voice, data, text, email, video and mobile Internet channels.