Netccentric Delivers Strong H1 FY2021 With Revenue Climbing 60%
KUALA LUMPUR, MALAYSIA - Media OutReach - 25 August 2021 -
- Strong revenue growth in the half year ("H1") ended 30 June 2021, with revenue +60% year-on-year (YoY) to S$5.23 million (A$5.16 million), driven by growth across the Group's business units
- H1 FY2021 EBITDA more than doubled YoY to S$0.19 million (A$0.19 million), excluding extraordinary expenses relating to the issue of options, M&A activities and forex movements
- Netccentric's 100% owned subsidiary, Nuffnang Malaysia, delivered a strong contribution to the H1 FY2021 results of S$2.51 million (A$2.48 million) with Q2 FY2021 revenue of S$1.34 million (A$1.32 million), representing YoY growth of 65% and quarter-on-quarter growth of 14%
- Nuffnang Malaysia pipeline continues to grow, with orders in H1 FY2021 up 88% to S$3.00 million (A$2.96 million) compared to H1 FY2020. This complements and empowers the Group's expansion into social commerce
- Netccentric retains a strong position to drive continued growth both organically and via M&A with a healthy debt-free balance sheet, S$5.43 million (A$5.36 million) in cash and a proven strategy to deliver end-to-end growth solutions
Social commerce platform provider Netccentric Ltd (ASX: NCL, "Netccentric" or "the Group") is pleased to provide the Group's financial results and update for the half-year ended 30 June 2021 (H1 FY2021).
Netccentric achieved revenue of S$5.23 million in H1 FY2021, up 60% compared to H1 FY2020 and driven by strong growth across the Group's business units which built momentum into Q2 FY2021. H1 FY2021 revenue for Influencer Platform (Nuffnang) climbed 49% YoY to S$2.96 million, Social Media Agency (Sashimi) jumped 52% YoY to S$1.21 million and Performance Marketing Agency (Plata & Punta) leapt 126% YoY to S$0.86 million.
Gross profit rose 34% YoY to S$2.23 million. The Group delivered H1 FY2021 EBITDA of S$0.19 million (H1 FY2020: S$0.09 million), soaring 108% YoY, excluding impact of extraordinary expenses relating to the issue of options, M&A activities and forex movements.
Netccentric entered H2 FY2021 with S$5.43 million in cash and no debt, providing strength and flexibility to fund the Group's growth objectives.
The Group's financial results reflect continuous financial strengthening as the business gains scale and management executes Netccentric's growth strategy.
For the detailed announcement, including 'Strategic and Operations Highlights', visit https://www2.asx.com.au/markets/company/ncl .
Netccentric closed trade at A$0.15 yesterday (24 August).