Half Yearly Report and Accounts
Perth, Feb 29, 2016 AEST (ABN Newswire) - Over the half year period to 31 December 2015, Yonder & Beyond Group Ltd (
ASX:YNB)continued to increase its involvement within its portfolio companies and identify and introduce synergies across the group, resulting in increased sales, revenue and customer acquisition, when compared to the previous 6 month period and the same period in 2014.
Cash Receipts
On 31 December YNB announced that CEO Shashi Fernando had committed a further $1m in funds via issue of a draw down convertible note to the company.
Partnerships
Partnerships have, and will continue to be, a key element of the portfolio companies marketing and growth strategies. During the period the following key partnerships were established: Gophr x Beats: In December, Gophr partnered with renowned music brand, Beats by Dr Dre to be their official delivery provider. Boppl x Epos Now: With over 10,000 venues in the UK, Epos Now is a leader in cloud POS technology. This partnership allows for Boppl to be available in every Epos Now venue. MeU mobile x Student Edge: Australia's largest student member organisation with over 750,000 members. MeU has partnered with Student Edge to provide exclusive deals to members.
Asset Valuations
As YNB is the controlling entity for a number of its investee companies, Accounting Standards require that the company consolidate the income and expenditure of the businesses, and take up the assets and liabilities in the accounts of the parent as if they were their own. While investee companies have developed leading technology platforms, deployed their products, begun generating revenue and increased their customer numbers, which in the opinion of the directors demonstrates an increase in the value of the business. Accounting standards prohibit the recognition of internally generated goodwill in the financial statements, so any such increase in the valuation of the businesses cannot be recognized in the accounts.
Outlook and Opportunities
During the period the Company also brought in-house key capabilities and resources enabling it to develop its own bespoke technology based products and solutions for portfolio companies and others. This agency resource will design, develop and deploy client's technology products and services and is expected to be revenue generative in the coming period.
The company's outlook continues to be positive, with a number of assets operating in fast growing sectors continuing to develop and gain ground on a daily basis. 2016 will see YNB's assets continue to focus on growing their market share and growing their revenue base.
Full commentary on the results for the reporting period can be found in the Director's Report and the consolidated financial statements for the half-year ended 31 December 2015.
To view the report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-YNB-754584.pdf
About Yonder & Beyond Group Ltd
Yonder & Beyond Group Ltd (Y&B) (ASX:YNB) is a portfolio of synergistic technology assets with a focus on mobile businesses. These include Gophr, Boppl, Prism Digital, PlayMeet and MeU Mobile. Yonder & Beyond's strategy is to identify and develop disruptive applications with high commercialisation and scalability potential.
Yonder & Beyond equip startups with vital capabilities beyond capital. Our philosophy is to invest in people, as well as invest in their business, so they can both grow and succeed. We are dedicated to contributing to the development of businesses through our resources, experience and relationships.
| ||
|
