As already reported, Prophecy has had a spectacular year with its new sales growth for the SNARE software set. This growth has continued through June and has delivered record results through to the end of our financial year.
- Record results expected for the full year
- Revenue expected to be at $9.95 million
- Underlying normalised profit before tax expected to be $4.1 million
- Total company revenue growth over 40%
- Underlying normalised profit before tax growth over 110%
- SNARE new sales growth over 200%
- SNARE total revenue growth 130%
As a result of our successful sales efforts, overall company revenue has come in at $9.95 million for the full financial year. This compares to a revenue figure of $ 7.1 million for last year and represents an overall revenue growth of 40% for the group business. The half year revenue was $4.4 million.
These expanded revenue numbers have produced a full year underlying normalised profit before tax of $4.1 million. By comparison, last year’s underlying normalised profit before tax was $1.69 million. The profit growth on that basis is 140% . It is very pleasing to report that we have doubled the half year underlying normalised profit before tax figure of $2.0 million.
The SNARE business has grown in leaps and bounds, with growth in new sales for 2015 standing at more than 200% over 2014, after excluding the impact of currency fluctuations. June was a record month and rates as our best sales month ever for SNARE, giving the team its highest quarterly sales result by far as well as a record full year result. This is an outstanding effort by our sales team.
Revenue for the SNARE business as a result grew by 130% in the year to be just shy of $6 million. This ran a long way ahead of our original target and budgets for the full year and augurs well for 2016.
A fully franked dividend is expected to be approved at the level of at least 2 cents per share to complete the full year payout with at least 4 cents per share.
The momentum in SNARE sales growth has already continued into July with $0.5 million in new sales achieved to date. Forecasts indicate that July has the potential to be the second best sales month ever, after the June record month for SNARE sales.
The FY15 financial results still need to pass through the full audit process, which is due for completion in August. In the process, the board will review the carrying value of all assets and recommend any write downs where appropriate across the legacy business lines.