ASX-listed TASK Group has reported financials for the first half of its 2024 fiscal year, recording substantial revenue and operating profit increases over the same period in the preceding year.
TASK said total group revenue reached $36.1 million, up 36 per cent.
Of this, the Plexure division brought in close to $29 million, which is up 71 per cent over the prior corresponding period and which reflects a full six months of its new McDonald's commercial relationship in Taiwan.
Plexure bought TASK in September 2021, for $120 million.
Operating profit for the group was up 75 per cent in 1H24, reaching close to $3.3 million.
However, operating expenditure rose by a third in the 1H24 period, to $32.8 million, and TASK Group posted a net loss after tax of $3 million which includes $3.5 million in amortisation for the software asset recognised on Plexure's 2021 acquisition.
The after tax loss represents a 35 per cent improvement over the equivalent preceding period, when TASK Group posted a $4.6 million loss.
"We're pleased to deliver another half of profitable growth," TASK Group chief executive Daniel Houden said.
"We made strong progress with the ongoing developmentn and commercialisations of the TASK plaftform where we are successfully converting more of our customers onto our digital econsystem," Houden added.
TASK said it had attracted new customers in North America and Australia, and addressed delays in onboarding these through enhanced processes and implementation resources.
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