Hostworks financials back on track

Hostworks financials back on track

Managed services company records over $10m in half-year revenue

Managed services provider, Hostworks, has bounced back to record net profit of $650,000 in the six months to December 31.

Managing director, Marty Gauvin, said it was getting back to where it wanted to be financially,

"There were one-off impacts on our '06 numbers but here we have returned to being on track with how we want to see the business operate," he said.

The business recorded a fall in net profits from $1.5 million to $200,000 in the full-year to June 30. At the time, it blamed the result on investments made into new ad-serving and software-as-a-service capabilities.

Sales-wise, the company was also up in the first half of the new financial year, with revenue exceeding $10 million for the first time. This represented a year-on-year increase of 15 per cent, or $1.39 million.

Gauvin said it hoped to build on its result by adding a modest amount of high-end customers in the year ahead. But its main aim was to expand services to existing customers.

"We have 60 customers now and if I never had more than 100 I'd still be pretty happy," he said. "We're continuing to grow with our customers and would like to focus on that rather than growing new ones."

Gauvin cited the example of ticket seller, Ticketek, which originally signed on to have its website covered by Hostworks. Today, the business uses around a dozen Hostworks applications, including email and financial applications, he said.

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