Sydney, July 3, 2008 AEST (ABN Newswire) - eServGlobal Limited (LON:ESG)(ASX:ESV), a provider of end-to-end solutions, enabling smart communication and payment services for service providers on any generation network, yesterday announced its net cash balance at 30 June, 2008.
Earlier this year, the company forecast a cash balance of AUD$13million.
Continuing focus on the invoicing and collections process, including an investment in people and systems, has produced a net cash balance of AUD$18.2million, representing a 45% improvement over the 30 June 2007 cash balance of AUD$12.5million.
"Over the course of the second half, we focused on achieving improvements to our cash collection process." said Mr. Ian Buddery, Executive Chairman of eServGlobal. "With the contribution of our dedicated staff and the benefit of new systems, we now believe that we will continue the positive trend into 2009, which allows the board to evaluate further actions to support shareholder value. All of this is being achieved whilst we fund the growth of our business, the growth of our delivery capability and record levels of investment in new products."
Contact
Ian Buddery
Executive Chairman
eServGlobal Limited
David Poutney / Brent Nabbs
Numis Securities Limited (NOMAD)
Tel: +44(0)20 7260 1000
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