Market Update - Strong Start to 2016
Sydney, Feb 12, 2016 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor" or "the Company") provides the following update on 2015 financial results and outlook for 2016.
31 December 2015 financial results
The Company will release its Appendix 4E - Preliminary Report by 29 February 2016. It is anticipated reported revenue for 2015 will be $5.2 million (subject to audit completion). Invigor previously provided revenue guidance of $6.0 million to $7.0 million for the period. The Company also previously released EBITDA guidance for 2015 of $0.5 million to $1.0 million1. Invigor now anticipates reporting a consolidated loss before interest, tax, impairments, depreciation and amortisation of between $1.5 million and $2.0 million (subject to audit completion). Executive management and senior staff changes which occurred during the last quarter of 2015 significantly impacted the revenue generated by Australian operations, with significant one off costs, resulting in a direct effect on the bottom line result.
2016 outlook
The Company has made a positive start to 2016 with recent management appointments, contract wins for Insights Retail and increased downloads of Shopping Ninja establishing confidence that Invigor is well positioned for growth in 2016.
Since Invigor completed its acquisition of Condat in December 2015, the companies have successfully commenced integration of its respective operations. The acquisition will particularly strengthen the Insights Visitor platform through use of Condat's smart media and mobility solutions.
Invigor expects to realise a number of non-core assets during the March 2016 quarter. Up to $3.0 million is expected to be received from the claim before the appointed Creditors' Committee of KIT digital, Inc. combined with the realisation from the proposed MVID transaction announced on 26 November 2015.
Invigor also announced on 2 February 2016 the sale of its non-core services business for $180,000 with potential for further consideration of up to $500,000 based on performance of that business over twelve months. The realisation of these non-core assets will allow resources within Invigor to focus on the key Insights Retail and Visitor products.
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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