Rhipe sees revenue rise but profit fall

Rhipe sees revenue rise but profit fall

Sees growth opportunities with recent nSynergy acquisition

Rhipe's Dominic O'Hanlon

Rhipe's Dominic O'Hanlon

Cloud licensing distributor, Rhipe (ASX:RHP) has recorded a 45 per cent increase in revenue to $48.2 million for the first half of the 2015 financial year ending December 31.

However, the distributor suffered a net profit loss of $317,000 to $39,000, which included non-cash costs on share-based payments expense of $856,000 and acquisition and due diligence expense of $434,000 relating to its $25.35 million acquisition of nSynergy in December.

The acquisition enhances Rhipe’s new Cloud solutions business unit, adding a new team of specialists with skills in Microsoft Office 365 and Azure, implementation and support.

The Cloud solutions unit aims to help support channel customer with value-added services, specialist software vendor services and helpdesk functions.

Rhipe is also building up its Asia Pacific presence, recently opening an office in Indonesia adding to its Melbourne, Sydney Auckland, Singapore, Bangkok, Kuala Lumpur and Manila locations.

The acquisition of nSynergy also propels Rhipe into new markets such as New York, London, Shanghai and Xi’an.

In the past six months, Rhipe made a 12.5 per cent investment in cloud software company LiveTiles and signed a new vendor licensing relationship with Zimbra.

This adds to Rhipe’s existing vendor relationships with Microsoft, VMware, Citrix, DataCore, McAfee, Red Hat, Trend Micro and Veeam.

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Tags MicrosoftVMwareCitrixfinancial resultsRed Hatmcafeetrend microveeamDatacorenSynergyRhipe


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