Novatti Group (ASX: NOV), CEO, Peter Cook presents its 1H18 results, launch of its Australian remittance service, integration of basis2 and progress towards its goal of becoming an ADI (authorised deposit-taking institution).Novatti Group Limited
(ASX:NOV) is a global software technology and payment services provider based in Australia. It helps economies, corporations and consumers digitise cash transaction both through its technology and services. With offices in Australia, the UK and Malaysia and 30 FTE, its blue-chip clients include Telstra, Hutchinson Telecom and Cable Wireless.
The Novatti Platform enables MNOs, banking and alternative payment network service providers to extend their product portfolio – taking robust, integrated payments services to the consumer market faster and more cost-effectively Revenues, primarily recurring in nature are from multiple lines of business in technology sales, billing and payments processing.
1H18 Financials: Revenue up $2.3 million. Up 108 per cent on 1H FY17 Cash as at 31 Dec 17 of $4.4 million. Full funded, debt-free balance sheet, growing recurring revenues.
For more, watch CEO Peter Cook's presentation.
