Wameja Di Regulatory News (WJA)

21 Feb 2005 11:36

eServGlobal Limited21 February 2005 ASX/MEDIA RELEASE 21 FEBRUARY, 2005 eServGlobal achieves 54% revenue growth. eServGlobal Limited (ASX:ESV & LSE:ESG), a specialised supplier of large-scaleIN (Intelligent Networking) software and services to internationaltelecommunications carriers, today announced its results for the six monthsending 31 December 2004. Sales revenue for the first half was $17.446 million, compared with $11.263million for the previous corresponding period, representing growth of 54.8%. 6 months to 6 months to 31 Dec 2004 31 Dec 2003Sales revenue $A17,446 $A11,263Gross Profit 7,826 3,661Other Revenue 223 209Sales and Marketing Costs 3,213 2,537Administration Costs (incl forex) 2,949 3,036EBITDA (before non-recurring) 1,887 (1,703)Non-recurring charges 587 2,126EBITDA 1,300 (3,829)Depreciation and Amortisation 1,185 1,222EBIT 115 (5,051)Interest Expense 1 4Profit before Tax 114 (5,055)Tax Expense 83 1,479Profit after Tax 31 (6,534) Gross Profit surged to 44.9% (32.5% at 31 Dec, 2003). This growth reflectshigher quality revenue and predictable project deliveries to our customersaround the world. Cash reserves at the half year were $10.719 million ($11.171 at 31 Dec, 2003). Net assets increased to $42.477 million ($40.563 million at 31 Dec, 2003). Mr Ian Buddery, Executive Chairman, said: "We are delighted to report thisstrong performance, which includes a solid EBITDA result, achieved in a periodin which we invested in our London Stock Exchange listing and in the long-termgrowth of the company. The foundation of product, marketing and partnerstrategies laid down in our 2004 fiscal year is producing positive outcomesacross the board. We now have more engagement with our customer base, moreengagement with potential new customers and more engagement with the keysolution suppliers in our industry. "The highlight of our first half was our contract to provide a major real-timeconvergent billing solution in India. This demonstrates our unique ability todeliver massive-scale systems for the new generation of real-time carriers, forboth CDMA and GSM networks. We also delivered new and ongoing projects to ourcustomers across Europe and Asia Pacific. Outlook eServGlobal is confident of maintaining momentum and delivering an outstandinggrowth and profit result for the full year. Mr Buddery, said: "We are entering the second half with a substantial revenuebacklog and a large sales pipeline of new opportunities. Our business is moreefficient, our product strategy and project delivery operations are producinghigher quality revenue and we are growing capacity in line with revenue." About eServGlobal eServGlobal Limited (ASX:ESV & LSE:ESG) delivers Better Network Intelligence.eServGlobal specialises in independent and flexible network intelligence systemsso that enhanced telecoms services can be launched and individualised faster. eServGlobal's systems are deployed in the networks of leading operatorsworldwide and support over 200 million revenue-generating calls every day. Headquartered in Sydney, Australia, eServGlobal has operations in the UK,Belgium, the Netherlands, Poland, Germany, India, Indonesia and New Zealand. More information can be found at: www.eservglobal.com For further information, please contact: media@eservglobal.com Ian Buddery, Executive Chairman, Tel. +61 2 9364 2700John Hartigan, Company Secretary, Tel. +61 2 9364 2700 Please click on the following link to view the presentation to analysts regarding half year results http://www.rns-pdf.londonstockexchange.com/rns/8258i_-2005-2-21.pdf This information is provided by RNS The company news service from the London Stock Exchange