Destra registers maiden profit

Destra registers maiden profit

Destra has released its full-year results, claiming the first net profit in its history.

According to the new figures, the hosting and media services company grew revenue by 73 per cent, reaching $15.7 million for the year ended June 30. Net profits hit $404,000, compared to a loss of $282,000 in the previous fiancial year.

CEO, Domenic Carosa, said it experienced increased sales across all of its divisions. Organic expansion and acquisitions had both contributed to the results, he said. Destra acquired Techex Communications in October last year, along with ISP, Veritel, in December, and GPM in July.

It was now working on a new website to rebrand all of its divisions under the new mantle of Destra Business, Carosa said.

"It will mean that we are a lot cleaner and easier to deal with," he said.

The company was also putting more effort into increasing average revenue per end-user. Part of this strategy involved opening up all of its products to channel partners, Carosa said. At present, resellers accounted for about half of its total sales.

"We have thousands of customers so we're focused on up-selling and cross-selling both direct and via our channel," he said.

To coincide with the push, Destra was classifying partners into three tiers: platinum, gold and silver.

"This will allow us to provide a better quality of service to partners and help them grow their business," he said. All were expected to be categorised by the end of the year.

Carosa said acquisitions in the business domain name, hosting and communications space were still a core component of its growth strategy. However, another main strategy over the next year would be to shift its media unit into a separate, publicly listed entity.

"Spinning off our media assets is important, given that the IT services business is very different," he said. "With the new public company, we will make a series of acquisitions in that space as well."

The company has forecast profits of $1.2 million for the current financial year.

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