FTR HOLDINGS LIMITED 2002-08-26 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
* Profit turnaround of $2.8m delivers net profit of $440k for
financial year ended 30 June 2002
* 30% increase in web hosting revenues to $22m in 2002
* EBTIDA increased from $253k in 2001 to $3.99m in 2002
* Significant investments in staff, new data center and high-end
division WebCentral Complex
WebCentral, Australia's largest web hosting player, has achieved a
$2.8m turnaround in profitability for the 2002 financial year posting
a net profit of $440k, up from the $2.4m net loss experienced in
2001.
Lloyd Ernst, WebCentral's CEO, said "This is a tremendous result for
WebCentral. The past 12 months has been a difficult period for the
technology sector as a whole, but by focusing our attention on
building and retaining our existing strong customer base and
investing for the future we have been able to emerge a much more
robust company with an enviable financial position."
WebCentral is a managed hosting specialist with a commitment to
continuous product development, high reliability and high levels of
customer responsiveness.
"Our customers are business-savvy. They see value in our offerings
and we, in turn, are continually innovating to meet their changing
needs. In a February 2002 AC Nielsen survey, 96% of our customers
said they would recommend us, with 51% saying they already had." Mr
Ernst said.
Web hosting revenues increased 30% to $22m from $17m in the previous
year. EBITDA increased markedly from $253k in 2001 to $3.99m in 2002.
A strong cash flow for the 2002 financial year has resulted in a 77%
increase in cash reserves. Expenses to 30 June 2002 were maintained
at the same level as 2001. More than 20 new products were launched in
the 2002 financial year, including Asia Pacific's first 'dot net'
offering, a hosted exchange product, a managed database product and a
corporate intranet product, DeskControl.
Andrew Spicer, WebCentral's COO, said "The profit was attained by
substantially increasing revenues while holding expenses - an
outstanding effort considering we made significant investments in new
products, high calibre additions to the management team, a new
enterprise grade data center and the high-end corporate division,
WebCentral Complex."
"One of the key factors in WebCentral being able to achieve this
result is the attainment of a critical mass in customer numbers,
which has allowed us to take advantage of scale economies," Mr Spicer
said.
ABOUT WEBCENTRAL
Further information:
David Lammey
WebCentral
Mob: (+61 7) 401 985 232
Ashley Rambukwella
MACRO Consulting
Mob: (+61 2) 407 231 282
Eric Parry
FTR Holdings Ltd
08 9470 4310
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