Manaccom nets in revenues of $16.2M for 2007

The audited results for the six months to December 2007 include revenue of $16.2 million, earnings before interest, taxes, depreciation and amortisation (EBITDA) of $959,608 and net profit after tax of $764,199.

Further, the results for the 12 months to June 2008 are expected to be higher than previously announced, with revenue between $30 million and $38 million, EBITDA between $2 million and $2.8 million and net profit after tax between $1.3 million and $2 million.

The better than expected results are attributed to the successful acquisition of software publishing and distribution company, Manaccom Pty Ltd and a turnaround in the online lottery division, said Mike Veverka, CEO of Manaccom Corporation.

“The acquisition of Manaccom Pty Ltd went smoothly and the subsidiary has performed well in its first four months since the acquisition on 31 August 2007,” he said. “The performance of Ozlotteries.com has also been pleasing with sales up and the number of active customers up as well.”

Manacomm Corporation is now logically divided into three divisions: Online Lottery Division, Software Publishing Division and Jumbo Interactive.

“Manaccom Corporation Limited is actively seeking acquisition opportunities in the e-commerce and information technology industries. The company has significant experience in the IT industry dating back to 1986," said Veverka.