NEWLY listed Gold Coast-based global trade exchange business BPS Technology says it will hit or beat key
prospectus forecasts in its first full-year results.
BPS, which owns the world's largest listed global trade exchange, Bartercard, expects to post underlying full-year FY15 earnings of between $9.5 million and $10 million, in line with prospectus forecasts of $9.89 million.
Earnings per share of between 11Â¢ and 12Â¢ will exceed forecasts of 11.11Â¢ a share. The company anticipates paying a FY15 dividend of more than 5Â¢ a share.
BPS, which posted a half-year net profit of $3.3 million, 14 per cent ahead of an anticipated $2.9 million, said it
had expanded to eight countries, with more than $600 million transacted by 54,000 business cardholders since its September listing.
It expects to be operating in 10 countries by the end of FY16. "Since listing ... it has been a very productive periodfor BPS," chief executive Trevor Dietz said.
"BPS has entered into a number of strategic agreements and alliances that are set to drive continued growth of the group's various business platforms and we expect these will deliver positive results in FY16." He said the planned rollout of its loyalty app, Bucqi, which was -forecast to deliver revenues of $2.8 million in FY15, had been delayed until late June.
"We now anticipate revenues of at least $48 million against prospectus forecasts of $51.6 million,"
Mr Dietz said.
"The company is in a strong financial position with zero bank borrowings, a cash balance exceeding $2 million, and has access to bank facilities for attractive opportunities if they arise." Shares in BPS, which listed at $1, closed 1Â¢ higher at 84Â¢.
Source: Gold Coast Bulletin – page 63, Saturday 4th July, 2015.