Newzulu Limited
(ASX:NWZ) has reported a 518 per cent increase in revenue growth to $1.5 million for the 6 months ended 31 December 2015.
The key drivers of the uplift in revenue have been attributed to Newzulu Technology, which contributed 62 per cent of revenues to the group.
Newzulu Technology, which comprises Newzulu Platform and Newzulu Live, sells technology which enables clients to crowd source content.
The company also experienced an increase in cash receipts from customers up 736 per cent for the half year over the prior corresponding period.
Newzulu has recently undergone a major restructuring to focus on the US market and says significant cost cuts will be implemented to deliver cash savings of over $5 million per annum.
