NetlinkzCloud solutions Netlinkz has posted a 1,262% increase in...

Netlinkz

Cloud solutions Netlinkz has posted a 1,262% increase in revenue to $8.72 million for the half. The solid results however, have translated into a $15.4 million net loss, up by 41 per cent on pcp.

The loss is mainly due to significant investments in design, implementation and hardware of$7.42 million, and financing costs of $8.58 million.

Focus for the period was to reach cash flow breakeven, with the Australian operations now reducing its cash burn to $0.5 million per month with further cost savings expected in the second half.

A key milestone was the partnership with LNS International, which has an extensive network and client base in the APAC region. This partnership has allowed Netlinkz to focus on the localisation of the Virtual Secure Network (VSN), and providing secure network solutions based on customer requirements assessed by LNS.

The China operation has increased by a significcant 1,100% in revenue, after the launching of VSN 2.0 in August. A number of distribution agreemens for the VSN 2.0 were also signed in Japan.

Back home, the Australian team has made strong progress on implementing the infrastructure required for the global rollout of VSN. Australia is the focal location in managing the rollout.

Other companies to report strong growth include AVA Risk Group (ASX:AVA) who reported 1,071% increase in net profits and Pivotal Systems (ASXVS), who reported a 44% increase in revenues for the half.