Sydney, Feb 24, 2009 AEST (ABN Newswire) - eServGlobal Limited (LSE:ESG)(ASX:ESV) is a public company listed on the Australian Stock Exchange and the London Stock Exchange (AIM). Along with its Head Office in Sydney, Australia, the eServGlobal group has operations worldwide.
eServGlobal develops and implements convergent charging and rating, mobile payment, network services and messaging products for over 80 operators in more than 50 countries in mobile, fixed and IMS network environments.
Our comprehensive offering enables innovative subscriber services with real-time control and improved financial performance. We help operators to grow new revenues, reduce churn and lower their costs.
eServGlobal's Convergent Charging Suite responds to increasingly sophisticated charging and billing challenges while providing advanced top up and mobile payment solutions. Our Messaging Suite enables multimedia services such as unified messaging, video blog, SMS and IM. We deliver WEB2.0, Mashup and Social Network applications, meeting customer demand for new communication experiences.
With 16 offices around the world and staff from 30 different countries, we provide flexible end-to-end solutions with ongoing product development and worldwide implementation, integration and support services.
The consolidated entity achieved sales revenue for the period of A$83.093 million (2007 A$91.194 million) - a decrease of 9%. The gross profit realised was A$41.533 million (gross profit margin: 50%) (2007 A$47.622 million (gross profit margin: 52%)). EBITDA for the period was A$7.065 million (2007 EBITDA A$13.192 million).
The net result of the consolidated entity for the half year ended 31 December 2008 was a profit after tax and minority interest for the period of A$0.602 million (2007 A$5.194 million).
In accordance with the Group's accounting policies, development expenditure incurred during the period of A$2.5million was capitalised in the Balance Sheet. The expenditure related to internally generated software comprising the HomeSend platform for which no revenue is forecast in the FY09 year.
During the period, the operating cash flow for the period was a net outflow of A$4.026 million. This reflects the increased work in progress which is still to be billed to customers. Also during the period a dividend of A$5.131 million was paid to shareholders. Cash at 31 December 2008 was A$10.163 million. It is anticipated that the cash balance will improve in the second half.
Rounding off of amounts
The company is a company of the kind referred to in ASIC Class Order 98/0100, dated 10 July 1998, and in accordance with that Class Order amounts in the directors' report and the financial report are rounded off to the nearest thousand dollars, unless otherwise indicated.
Contact
Ian Buddery
Executive Chairman
eServGlobal Limited
Numis Securities Limited
Brent Nabbs (NOMAD) / David Poutney (Broking)
Tel: +44-0-20-7260-1000
ICIS (financial PR)
Christian Taylor-Wilkinson / Bob Huxford
Tel: +44-0-20-7651-8688
eServGlobal Limited
Sally Bennett, Communications Manager
sally.bennett@eservglobal.com
T: +33-1-46-12-77-46
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