New Zealand Stock Exchange Alternative Market (NZAX) listed Enprise Group has reported growth in its half year to September 30, with total revenue up 10.4 per cent to $4.7 million.
Australian revenue grew 17 per cent to shade $1 million and New Zealand revenue grew 9 per cent to $3.7 million, with net profit for the period rising 22 per cent to $393,000.
Enprise has three operating divisions: Enprise Solutions and joint ventures Datagate Innovation (39.2 per cent share) and Kilimanjaro Consulting (47 per cent).
Specifically, the business provides MYOB's EXO and MYOB Advanced software platforms and a range of companion products to extend those platforms, supporting around 750 MYOB EXO and MYOB Advanced customers across Australia and New Zealand.
Datagate Innovation provides online billing and reporting solutions for businesses such as telcos, utilities, retailers and managed service providers that bill according to subscription or usage.
Meanwhile, Kilimanjaro Consulting is Australia’s largest implementer of MYOB’s enterprise-level business management solutions.
“In this period we grew revenue on both sides of the Tasman, completed a highly strategic acquisition and paid a shareholder dividend,” Enprise Group CEO Elliot Cooper said.
"The profit rise is the result of continued growth in the Australian and New Zealand markets combined with careful management of cost of sale."
The half-year also saw completion of the acquisition of 47 per cent of Kilimanjaro Consulting.
"Synergies between our Enprise Solutions business unit and Kilimanjaro will further boost growth and reduce cost of sale in Australia,” Cooper said.
Kilimanjaro customers now have access to ‘Enprise Cloud Path’, a service that ensures businesses chart the smartest path to the cloud, he said. The two companies are also working together to accelerate sales of the new cloud product MYOB Advanced as well as delivery of MYOB Exo via the cloud.
"Datagate Innovation has proven its cloud-based billing engine in the New Zealand market with customers like Spark Wholesale and Dimension Data," Cooper added.
"Last month it closed a successful rights issue, raising $683,710 of new capital in a move that will enable rapid expansion to capitalise on early success in the North American market."
Datagate recently formalised an agreement for representation in the North American market as Datagate America, and signed its first American customers.