News and Announcements
Big UnLimited FY 2016 Results; Preliminary Final Report; Sales Revenue Growth of 257%; Strong Member Base Growth of 125%
- Published September 05, 2016 10:41AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
31st August 2016, ASX Announcement
BIG UnLimited FY 2016 Results
- Robust sales revenue growth of 257%, reaching $2.36 million for the FY 2016 period ($0.66 million FY 2015)
- Sales revenue predominantly driven by strong member base growth (125%) the result of successful sales initiatives and new subscription packages
- Strong funding position and operational cash flow performance, with $3.8 million in cash as at 30 June 2016 and $4.07 million in cash receipts from customers, a 466% increase on FY 2015
- Cash flow performance resulted in Australian operations achieving cash flow positive for March 2016 and in the final quarter (excluding corporate costs)
- Net loss before income tax for the period totaled $7.8 million, attributable to increased expenses associated with investment in personnel, training, platform enhancement and infrastructure implementation for further overseas expansion and land grab
- Well positioned to continue to progress growth initiatives, domestically and overseas, and customer growth expected to accelerate upon launch of enhanced platform in the December quarter
- Enhanced platform expected to increase recurring revenue streams through subscriptions by providing customers a platform for online management of video marketing and social publishing capabilities
- Sales pipeline continues to grow with over 18,000 members, an increase of 125% during the 12 month period
Big Un Limited (ASX: BIG, ‘BRTV’ or ‘the Company’) has today released its full year results for the year ended 30 June 2016 and is pleased to provide a review of its performance for the period.
Financial Overview
During FY 2016, the Company reported robust sales revenue of 257%, reaching $2.36 million (FY 2015 $0.66 million). This was primarily driven by video content sales in its Australian operations and a number of new products and packages, including subscription packages that were launched during the year for specific market segments. Strong sales were also a result of strong growth in the Company’s member base, a key driver of sales, which grew by 125% to 18,000 members as at 30 June 2016.
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