Reverse Corp (ASX:REF) should trade higher after advising that based on interim unaudited management financial statements it expects EBITDA of between $2.3 million and $2.5 million for the year ending 30 June 2014.
The anticipated result reflects continuing improvement of 1800-Reverse service driven by higher call volumes, and its contact lens business OzContacts.com.au approaching profitability, although still requiring further funding to drive growth.
Reverse Corp holds a 65% stake in OzContacts.com.au
Management continues to focus on operational improvements to existing businesses, lowering costs and identifying growth opportunities through acquisitions and business development.
The Company has net cash of $4.7 million and is capitalised at around $12 million.
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