Destra records rising revenue

ASX-listed Destra has announced its half year results to December 05, recording revenues of $12.1 million, up 73 percent from the same period last year.

Despite 542.5 percent revenue growth in the company’s Media division to $1.89 million, its Business division picked up the lion’s share of revenue with $10.3 million.

The company also recorded an EBITDA of $0.9 million up 20 percent, net profit of $0.5 million up 108 percent and an operating cash flow of $1.6 million up 454 percent.

The company is now looking forward to an EBIT of $1.2 million for the full year and is placing high hopes on the digital music market.

Citing IDC stats, Destra said the sector was expected to grow 45 times over the next four years to around $52 million.

Mobile music and video growth was also expected to boom, leaping from $5 million last year to $200 million in 2009.

Its core Business division is still expected to perform thanks to stats indicating that managed web hosting market was expected to grow from $140 million this year to $180 million in 2007.

Shared hosting is expected to grow gradually from around $75 million to $82 million in the same period.

As at 1pm Destra shares were trading at $0.27 per share, up from $0.25 cents at the start of today’s trading.