Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


New Plexure leadership team delivers turnaround

New Plexure leadership team delivers turnaround with strong revenue growth and cash flow positive status

Mobile engagement software company Plexure showed strong results for the year ended 31 March 2018 with a significant increase in revenue by 61% - up $4.474m from FY17. The business ended the FY18 year with $4.09m of cash in hand and remains cash flow positive with $2.634m generated from operating activities.

Plexure’s impressive revenue growth, coupled with a reduction in operating costs have resulted in a reduction in its total comprehensive loss of 75% to $1.617m. It is important to note that of the total comprehensive loss of $1.617m, $1.255m relates solely to the accounting treatment for a $1.675m convertible note.

A new executive team and renewed strategic vision have been key elements in taking the business to the next stage. Plexure’s ongoing focus to streamline the business has seen a decrease in expenses of 13% or $1.737m, achieved primarily through cost management and re-structuring.

Existing customer relationships contributed to the majority of the 61% revenue increase in FY18. Plexure’s global expansion into 18 countries through its relationship with McDonald’s during FY18 has been commercially significant and this affiliation has paved the way for future growth.

With deeper customer connections fueling new revenues, Plexure continues to build new features and capabilities to its technology platform.

Chief Executive Craig Herbison says the Company is heading in the right direction and is pleased with progress through the FY18 year.

“The team has worked tirelessly to achieve what we have to date and we have strong momentum. The underlying business is now operating profitably setting us up for a strong FY19 and beyond,” said Mr Herbison.

Plexure’s Chairman Phil Norman says “the Board is extremely pleased with the progress the Company has made in the last 12 months. The financial results, cash position and substantial reduction in loss are clear evidence that our refreshed strategic direction is positioning Plexure for sustainable growth and profitability.”

Plexure also announced this morning that Scott Bradley has resigned as a Director of Plexure with immediate effect.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Forest And Bird: Misinformation Circulating On Biodiversity Policy

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>


NIWA: Scientists Say Methane Emitted By Humans ‘vastly Underestimated’

NIWA researchers have helped unlock information trapped in ancient air samples from Greenland and Antarctica that shows the amount of methane humans are emitting into the atmosphere from fossil fuels has been vastly underestimated... More>>


SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>


Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>


Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>


NZ First: Launch Of Parliament Petition To Remove Aluminium Dross

This afternoon to a crowd of over 100 people in Mataura -- Mark Patterson, New Zealand First List MP based in Clutha-Southland launched a parliamentary petition regarding the aluminium dross issue in Mataura, Southland. The petition asks that the House ... More>>