Forum Archive Index - August 2000

["Peter Robertson" <p.robertson@clear.net.nz>]

-----Original Message-----
From: Sharon Slater <SharonS@AdvantageGroup.co.nz>
To: 'p.robertson@clear.net.nz' <p.robertson@clear.net.nz>
Date: Wednesday, 9 August 2000 11:35
Subject: Advantage Group Annual Results - 2000


>
>Contacts:
>Greg Cross CEO
>Advantage Group Limited
>021 417 799
>
>Allan Botica
>Botica Conroy and Associates
>021 400 500
>allanb@bca.co.nz
>
>Advantage's E-commerce Growth Strategy Delivers
>eServices Focus Sees Revenues Up 202%, Earnings Up 97%, EPS up 41%
>
>Auckland - 9 August 2000 - Advantage Group Limited (NZSE: ADV) today
>announced a strong financial result following its first full year of
trading
>as an e-Commerce business. The company reported normalised profit of $6.7
>million for the twelve months ended 30 June 2000, up 97% on profit of $3.4
>million for the corresponding period last year. This represents earnings
per
>share of 11.1c, up 41% on last year's EPS of 7.9c per share.
>
>The profit was achieved on revenues of $63.9 million, up 203% on revenues
of
>$21.2 million for the corresponding period last year.
>
>"While it has been a year of fluctuating fortunes for Internet companies,
>Advantage continues to deliver revenue growth and profitability despite our
>rapid growth," says Chief Executive, Greg Cross.
>
>Condensed statement of financial performance
>(audited)
>
>Financial year ended June
>                            (millions)
>                          2000       1999
>Total Revenues            $63.9      $21.2
>Normalised Profit         $6.7       $3.4
>
>Revenues and gross profit by division (unaudited)
>                             (millions)
>
>                        Revenues   Gross Profit
>Web Services            $16.5      $8.9
>Payment Solutions       $12.6      $5.8
>Retail Solutions        $20.6      $11
>Portable Technologies   $13.8      $5.6
>
>Each operating unit made a significant contribution to the result and
>increased in profitability.  Web Services accounted for 26% of revenues;
>Payment Solutions for 20%; Retail Solutions, 32%; and Portable
Technologies,
>22%.
>
>"Over the last twelve months we have transformed Advantage from a New
>Zealand-based EFTPOS company into an end-to-end eServices company with
>international operations.
>
>Highlights and milestones for the reporting period included:
>* The acquisition and successful integration of six businesses
>including Glazier Systems, WebMasters, Aldridge Punter and Campbell Pope
>* The establishment of a strong, experienced executive team to manage
>the company's future growth
>* A total realignment of the company's activities around the delivery
>of eServices. Every business unit in the company now has it as a clear
focus
>to develop eServices capabilities, build eServices platforms, and drive
>eServices revenues.
>* Building Web Services from 3 to over 300 people, and adding $7.1
>million of organic revenue growth to the $9.1 million revenue streams of
>acquired businesses
>* Investing $1.8 million in growth-related training and development
>
>"We have often spoken of Advantage supplying the bricks and shovels for the
>Internet economy," says Cross. "It is perhaps more illuminating to say
we're
>building the infrastructure - the ports, railway terminals, airports,
>interchanges, markets and shopping malls - of the Internet.
>
>"In this environment Advantage is still growing rapidly. Our earnings base
>is strong and diversified.  And above all, we are a profitable e-commerce
>company, operating in one of the fastest growing sectors of that market.
>
>"What sets Advantage apart is a combination of several factors. Firstly we
>have scale: we have grown to become one of the largest eServices companies
>in Asia Pacific. Accompanying that is our end-to-end capability: we are one
>of the few eServices providers able to deliver the consulting, integration
>and implementation services necessary to manage large-scale e-commerce
>projects.
>
>"We currently hold the number one position in every market that we
contest,"
>says Cross. "Our aim is to consolidate that lead, and our core strategies
>for achieving this are to realign every operating unit within the company
as
>an eServices business.
>
>"We are converting hardware based businesses into service provision
>businesses based on our ability to deliver end-to-end e-commerce services.
>We will improve our customers' performance, operating integration and
>efficiency by integrating XML capability throughout all operating units. As
>an e-commerce infrastructure provider we are delivering Internet solutions
>one customer at a time."
>
>
>Company Background
>Advantage Group Limited, an NZSE 40 company, is a leading supplier of
>eServices throughout the Asia Pacific region.  Advantage employs over 400
>full time people supporting customers in 15 international locations. For
>more information, visit http://www.advantagegroup.co.nz.
>ENDS
>
>


----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
http://www.netbroker.co.nz/        Trade on Credit, Low Brokerage. Join now.
----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/forum.shtml.