Wynyard Group interim financial result on track

Wynyard Group interim financial result on track

AUCKLAND, 26 August 2013 – Wynyard Group (NZX:WYN), the specialists in advanced software and solutions for protecting companies and countries from threat, crime and corruption, today released its unaudited financial results for the six months ending 30 June 2013.

As a result of the amalgamation undertaken prior to and as a lead up to the NZX listing, the reported interim results incorporate the three-month trading period to 30 June 2013. The results for this period show that Wynyard Group reported unaudited revenue of $5.6 million with a net loss after taxation of $3.1 million, including one-off initial public offer and listing costs.

Consistent with the Wynyard Group Investment Statement and Prospectus, dated 6 June 2013, the Directors believe that it is appropriate to consider the full six-month pro-forma trading results to 30 June 2013. Wynyard Group’s unaudited revenue for this period was $10.3 million, up 51% on the same period last year.

Wynyard Group Managing Director Craig Richardson said the company has had a strong first half and is currently on track to deliver its full year revenue target of $21.5 million[1].

“I am pleased we have achieved our first half operating objectives. The focus continues to be on managing our expanding sales pipeline and global distribution footprint to deliver on our key customer service and growth milestones.”

Richardson said that Wynyard Group was benefiting from global media and attention on the use of advanced technology to disrupt organised crime, together with calls for wider governance and public accountability in government agencies responsible for these activities.

“Our tools were purpose-built to help customers assess threats, surface intelligence from lawfully gathered data and investigate serious crimes in a democratic environment where privacy, transparency and public accountability cannot be compromised. Recent events in the US have validated our company and product strategy which brings together these key and increasingly important capabilities.”

Wynyard has a clear four-step global growth plan focused on expanding its customer base through rapid innovation, extending its global direct sales and partner distribution network and leveraging its specialisation in crime science. The company is targeting 62% year on year revenue growth in 2013.

During the period Wynyard won contracts with New Zealand Police, a top 20 Fortune 500 company and one of Australia’s major critical infrastructure companies. Wynyard also launched its financial crime detection software-as-as-service in United Arab Emirates and United Kingdom, winning one of Europe’s largest financial services outsourcers for anti-money laundering and fraudulent transaction monitoring. Wynyard Intelligence won Most Innovative Software Product at the 2013 Hi Tech Awards and the company signed its first technology partner agreements which will see third parties bundle Wynyard Intelligence with their specialist crime solutions.

Richardson said the company’s success was continuing to attract the talent required to deliver on its global growth plans.

“We have secured an office in Arlington, Virginia and expanded our facility in the United Kingdom. There is a client-focused mission and momentum in the company that has attracted senior sales and technical talent from our competitors bringing with them the experience to execute our strategy.”

Wynyard Group has offices in New Zealand, Australia, United States, Canada, United Kingdom and Dubai.

ENDS

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