Annual revenue growth of up to 73% as sales pipeline progresses - Wynyard
The company expects revenue of between $40m and $45m this year, up from $26m last year.
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Wynyard Group [NZX: WYN], the security software firm, predicts annual revenue will grow as much as 73 percent this year as it presses ahead with a number of contracts and gets closer to finalising a major distribution agreement in law enforcement markets.
The Auckland-based company expects revenue of between $40 million and $45 million this year, up from $26 million last year.
The software developer signed an undisclosed number of new contracts and extensions in the first half of this year, and expects to finalise "a significant national security solution" for delivery in the second half of 2015. It's also in the final stages of securing a partner distribution deal for its crime analytics product across the US and global law enforcement markets, it says.
Wynyard says it's on track to expand its global sales and services operations. Its workforce will grow from 228 people to 330 by the end of the year, building a global distribution network, and launching new products.
The shares were unchanged at $1.74, and the stock is rated an average 'hold' based on two analyst reports compiled by Reuters with a median target price of $2.23.
Shareholders will get an update on its performance and vote on electing Richard Twigg and Louis Grever to the board at its annual meeting in Auckland tomorrow. They will also vote on whether to issue 216,000 shares to Transformation Services at $1.92 apiece to pay for consulting services provided by the firm which is associated with former Wynyard director Herb Hunt.
The last resolution shareholders are being asked to approve is a change to Wynyard's constitution to allow a listing on the ASX, something the company aims to do in the third quarter of this year.
Wynyard flagged the proposed secondary listing on the ASX in March, saying it would enable more Australian and foreign investors to hold the company's stock, though it won't raise any money from the listing.
(BusinessDesk)
Paul McBeth
Mon, 18 May 2015
Mon, 18 May 2015
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Annual revenue growth of up to 73% as sales pipeline progresses - Wynyard
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