Group • Significant reduction in losses compared to previous year • Revenue FY2009 $11M (FY2008 $12.1M) • GFC caused small delay in growth and profitability plans • Forecast revenue to exceed $17 Million • Company forecast to reach profitable position • Free cashflow forecast to be generated to assist growth
The Group has completed phase one of the company rebuild and has moved into executing its new strategy to drive revenue in each operating division.
The evidence of the success of the strategy execution is highlighted within Searchworld, which based on its June run rate being continually achieved during each month, it will at least double revenue in FY2009 and become profitable.
The Company believes that the Media's AdAuctionEngine has similar potential to Searchworld's AdFeedEngine.
The Group is forecasting that it will be mildly profitable in FY2010 and significantly profitable in FY2011.
The opportunites for Searchworld and Webfirm Media have the potential to be Global.
Searchworld New strategy driving growth • Strengthen Australian and US teams • Geographical expansion to the UK and Europe • AdFeedEngine improvements continue, platform extension planned • Forecast revenue to exceed $11 Million
Webfirm Continue to extract operating efficiencies • Refining processes to gain efficiencies • Growth through new sales process • Introducing expanded product range for SME’s • Forecast revenue to exceed $5 Million
Media New media strategy to be launched • Introduction of the AdAuctionEngine • Reposition Navteq opportunity as MapMedia • Forecast revenue to exceed $2 Million
"Forecast revenue is expected to exceed $17M in FY2010 representing growth of 54% over FY2009"
All sounds really good to me
WFM Price at posting:
6.1¢ Sentiment: LT Buy Disclosure: Held
