A brief reminder:Destra Corporation Ltd (DES) is a burgeoning...

A brief reminder:

Destra Corporation Ltd (DES) is a burgeoning internet and
e-commerce company delivering internet business and consumer
entertainment solutions through its two arms - destra Media and destra
Business.
The company seems to have a lot of potential, particularly
in its media division which distributes a vast amount of digital music
to clients via Intel's Viiv technology PC/home.
The value of this part of the business is about its prospects,
reflected by the half year result showing the Media division sales up 543
per cent while the Business sales division rose 53 per cent.
Yesterday Destra Corporation released its results for the
December half year, reporting net profit surging 108 per cent above the
same period in the previous year.
Directors told shareholders that the first half of 2006 was
one of continued growth for Destra, especially within the destra Media
division.
Net profit for the half year period to December 31 was $468,000
(2004: $225,000) on total revenue of $12.167 million against 2004's
$6.985 million.
Increased revenues reflect continued growth in both the
Business and Media divisions and the impact of acquisitions.
The latest December half saw an expansion in the range of
services offered to Business customers and greater advertising and
content sales in the Media division.
Directors said "The half result was in line with expectations and
we remain on target to achieve earnings before interest and tax of $1.2
million for the full year".
The positive operating cash flow performance reflects
underlying operating profits, seasonal factors associated with the
Christmas trading period and favourable working capital movements.
Cash at bank minus short-term bank borrowings was $2.2 million
with total loan facilities approved to $3 million.
Second-half earnings should be bolstered by a six-month
contribution from the Rajon group (acquired in December) and also
benefit from the increasing commercialisation of the destra Media assets
through the partnerships formed with Intel, 3 Mobile, Harvey Norman and
others.
"We will continue to invest in these assets and make selective
acquisitions of profitable and synergistic media businesses over the next
year," directors declared.

SHARE PRICE MOVEMENTS
*********************

Shares of Destra yesterday edged up 1c to 26c. Rolling high
for the year has been 30c and low 9.5c. The high price was struck in
February after a news letter wrote them up but soon after they were back
to 22c. The company has 119.5 million shares on issue with a market cap
of $29.8 million.
The key to the company's improvement has been the growth in
revenue from $7 million to $12.2 million for the half.
During the period Destra purchased the business of GPM
Internet in July.
In December Destra purchased music business Rajon, through the
purchase of 100 per cent of the shares in Rajon Distribution Pty Ltd.
At its AGM in November, Destra announced it was looking for
further acquisitions in this financial year.
Work is continuing on this and announcements will be made
when an acquisition has been reached.
Probably the most fortuitous acquisition has been an
agreement with Intel to distribute and sell destramusic.com's 1.3
million digital music tracks via Intel's Viiv technology PC/home
entertainment platform.
Intel Viiv technology is focused on enhancing consumers'
enjoyment, management and sharing of digital entertainment.
Intel launched its Viiv technology at CES (Consumer
Electronics Show) in Los Vegas in January and will be launching locally
this month.
"The Intel Viiv technology rollout is driving tremendous
awareness for converged technologies in the home," said Domenic Carosa,
Destra's CEO.
"This agreement presents an outstanding opportunity for destra
Media, as a digital integrator, to be a critical component within the
growing number of households embracing digital entertainment," Mr Carosa
declared.
Devices based on the Intel Viiv technology platform are able
to support surround sound, high-definition video and other enhanced
features.
"Our destra Media team is currently beta testing its
destramusic.com and MP3.com.au Intel Viiv technology version and we are
on track to have the service ready for the March 16 Australian launch of
Viiv," said Mr Carosa.
MP3.com.au's 100,000 tracks of independent musicians will be
made available for free to users of the service while destramusic.com's
1.3 million tracks from major record companies, including EMI, Sony and
FMR, will require a fee to be paid.
Destra has consolidated its leadership position in the digital
music space having made significant technology headway and announced a
number of global agreements over the last eight months.
"Our relationship with Intel and the integration of our digital
music technology into its Viiv platform, will allow a number of our
retail and media partners to launch an integrated service on the new
Viiv home entertainment devices coming to market in April," Mr Carosa
said.
"We will be announcing a number of very significant retail
and media partnerships over the next couple of months which will take
these services to the mass market at a level never seen before in
Australia."
Destra Media and 3 mobile recently launched Australia's first
mobile subscription based digital music download service, offering
3 mobile customers the country's largest digital music catalogue
of independent artists.
The $3 per month subscription service allows 3 mobile customers
to download as many tracks as they want from MP3.com.au's extensive
catalogue of songs as often as they want each month.

BACKGROUND
**********

Destra Corporation is a leading internet and e-commerce company
delivering internet business and consumer entertainment solutions through
its two arms - destra Media and destra Business.
The destra Business group comprises of two divisions -
destra Business and TPP Internet.
These divisions service the SME sector through mid-tier to
large corporations delivering solutions and efficiencies in data
connectivity, voice communications, managed and virtual hosting and
domain name services.
Destra Business is an established end-to-end managed service
provider of comprehensive data, voice and hosting solutions to broad
market segments.
Destra Business services SMEs, large businesses, corporates
and government Australia wide.
The breadth and depth of destra Business services and products
include voice and data communications, enterprise and co-located hosting,
full managed hosting services for all platforms, domain registration,
wireless and broadband connectivity, network integration and data centre
facilities.
TPP Internet is one of the top three domain registrars in
Australia selling domain registrations directly and through its channel
arm.
TPP Internet registers domain names in many countries for its
clients that include Telstra, News Interactive, NineMSN, Lend Lease
Corporation and ANZ Banking Group.
In addition, it is the exclusive international domain name
registrar for the Solomon Islands.