New Bill Express contracts fuel growth

ASX-listed Bill Express is set to continue strong revenue growth with the winning of two new contracts.

The virtual voucher and bill payment services vendor has been selected as a panel member on the South Australian Government Contract.

This will see it become the preferred source of over-the counter services to the Government’s Courts Administration, Housing, Revenue, Police, Transport and Primary Industries agencies.

The company will manage the up to 2.5 million invoice transactions the agencies produce per year.

According to company secretary, Marc Lichtenstein, the deal would help continue the company’s current 50 percent monthly sales growth.

“We have a major focus on government but we continue to add billers in utilities and telco too,” he said. “At June 30 we had 214 and we’re anticipating 400 by the end of the year.”

The company has also picked up new business with Crazy John’s to provide over 100 of its retail stores with prepaid mobile phone recharge products.

Lichtenstein would not disclose the value of the deal but said gaining additional points of presence was essential in maintaining revenue growth.

“There’s been a trend toward prepaid in the mobile phone market,” he said. “Globally it’s around 50:50 pre- to post-paid but in Australia pre-paid is only around 20 per cent. So there is plenty of potential.”

Looking ahead, Lichtenstein said revenues were expected to grow by an additional 50 per cent in the financial year ahead. This would be helped along by new and emerging opportunities in point of decision TV.

“Point of decision TV advertising is very big in the States and Europe and is a resounding success in companies such as Walmart and Tesco,” he said. “It is now showing signs that it is set to take off in Australia.”