IKE Reports Solid Results for FY20

  • Jun 30, 2020 NZST
  • Team Kalkine
IKE Reports Solid Results for FY20

For the 12 months ended 31 March 2020, ikeGPS Group Limited (NZX:IKE) reported performance in line with the headline metrics announced to the market in April 2020. Key Highlights:

  • The company reported record revenue of about $9.8 million, up by 23 per cent on PCP;
  • Gross margin stood at $7.0 million, growth of 30 per cent against PCP;
  • The company had no debt with total cash and receivables of approximately $5.8 million.

The company also performed solidly through the Q1FY21 ending 30 June despite significant Covid-19 impacts across North America. It expects to achieve revenue of approximately $2 million for the quarter, which is a 15-20% reduced run rate revenue level against FY20.

 


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