Urbanise Delivers FY19 48% Revenue Increase (Year-on-Year)
Urbanise.com Limited (ASX:UBN, ‘Urbanise’ or ‘the Company’) is pleased to announce strong revenue growth and improving cashflow for the year ended 30 June 2019.
Revenue increased to $8.1m for the year ended 30 June 2019, increasing by 48% compared to the Prior Corresponding Period (“PCP”)
Total costs (including expenses, depreciation, amortisation and impairment) decreased by 63% from the PCP.
Average monthly cashflow improved by over $500k per month from $(810)k per month for the PCP to $(273)k per month for the year ended 30 June 2019, an improvement of 66%.
Cash on hand at 30 June 2019 was $3.7m.
Urbanise’s CEO, Saurabh Jain said:
“I am pleased to announce our outstanding result with increased revenue of 48% and a reduction of cost by 63%, our platforms are gaining traction across their respective markets. We are continuing our focus on customer service and ongoing innovation to ensure we deliver value for all our stakeholders.”