Enprise Group (ENS) H2 2024 earnings summary

Executive summary

• Group revenue increased by $1.114m (5.4%) to $21.865m for the year ended 30 June 2024, with a return to profitability after a prior year loss.

• Total comprehensive income was $0.019m, compared to a loss of $10.967m in 2023, reflecting improved performance and cost management.

• Kilimanjaro Consulting delivered a strong second half, with full-year operating profit of $1.245m, up from $0.362m in 2023.

• iSell achieved 14.5% revenue growth and reduced losses through aggressive cost-cutting.

• Datagate recurring revenue grew 24.8%, with further investment to expand market share.

Financial highlights

• Revenue from contracts with customers was $21.865m (2023: $20.751m).

• Net loss after tax was $0.046m, a significant improvement from the $10.752m loss in 2023.

• Basic and diluted EPS was (0.04) cents, compared to (60.82) cents in 2023.

• Cash and cash equivalents at year-end were $1.737m, up from $1.178m.

• Net assets increased to $3.104m (2023: $1.446m).

Outlook and guidance

• Directors expect sustained improved performance, with positive operating cash flows projected for FY25 and FY26.

• Forecasts are sensitive to revenue assumptions, but stress testing indicates adequate cash resources without further capital raising.

• The acquisition of a 52% stake in Recipe Marketing is expected to create synergies with the MYOB business.