Story image

Enprise Group sees 189% profit jump after software division sale

28 Nov 2016

Enprise Group's latest financials show that the company was fortuitous in its decision to sell of Enprise Software in 2015, as the company has boosted its profit by 189%.

The company's half-year results show that revenue has grown to $4.3 million - an 11.7% rise. This has been made up of revenue from Australia (a 37% rise to $876,000) and New Zealand (a 6.8% rise to $3.4 million).

The company's profit sits at $323,000 while cash and bank balances came in at $627,000.

Enprise Group CEO Elliot Cooper says the jump in profit can be attributed to the sale of Enprise Software and a drop in losses made by joint venture Datagate Innovation.

Datagate Innovation has been busy connecting with IT, telco and utility resellers to help boost its presence and revenue across the usage billing market.

“Live sites are mainly IT, Telco and Utility resellers. These are highly strategic customers because they generate new ‘white label’ opportunities for Datagate within their own reseller communities. This will further grow annualised revenue," Cooper says.

“Datagate is closing a fresh capital raising on 30 November 2016 at a valuation 20 percent above the capital raise that closed in February this year. The new capital raising includes a rights allocation of $250,000 to Enprise Group which we propose to take up," he concludes.

The company says Enprise Solutions has been doing well and has strong positioning in the cloud business software market. The company expects to see continued profitable growth in New Zealand and Australia.

“Although the sale price of $451,045 received for the Enprise Software business was relatively small, that business had required significant ongoing investment and its divestment has strengthened the Group balance sheet,” Cooper says.

“Enprise Solutions has strong positioning across the region in the cloud business software market. MYOB Exo is now available via the cloud as well as on premise and sales of the new cloud product MYOB Advanced are ramping up," he concludes.

Winners of 2019 Adobe Experience Maker and Marketo Revvie Awards announced
The Adobe Experience Maker Awards recognise Adobe Experience Cloud customers and partners.
How Adobe and ServiceNow aim to advance customer experience management
“Together, ServiceNow and Adobe will help enable seamless digital workflows that power the experiences customers want.”
Adobe opens up marketing opportunities with Roku
Adobe and streaming TV platform Roku are now offering Adobe customers the ability to precisely target consumer audiences moving to over-the-top content (OTT).
Adobe Summit kicks off the future of customer experience in Las Vegas
“Today, at Adobe Summit, we unveiled significant new capabilities in Adobe Experience Cloud, including the introduction of Adobe Commerce Cloud and Marketo Engage, and general availability of Adobe Experience Platform.”
Ruckus releases new switch for 100GbE edge-to-core networks
Enables multi-gigabit networks with pay-as-you-grow model suitable for education, government and enterprise environments.
‘Buy-now-pay-later’ taking consumer markets by storm
A new survey shows that young people are embracing this new method of purchasing, with over 1.5 million users in the last year in Australia alone.
Aerohive achieves ISO/IEC 27001 cloud platform certification
Aerohive is the first cloud-managed networking vendor recognized by a global standard for commitment to information security management systems.
Five things MSPs need to keep in mind in 2019
A Datto APAC channel exec outlines the most important factors for MSP to being paying attention to in the coming year.