Welcome, I did not expect to be standing before you this morning having made an announcement to the market yesterday of a profit downgrade; for this, I sincerely apologise on behalf of myself and fellow board members. Whilst Inabox’s acquisition of Hostworks was completed to accelerate a managed private and public cloud offer to our large base of SME’s, the productisation of an SME offer and subsequent sales success has not ramped up fast enough to balance three enterprise customers, who are rationalising their Hostwork services, along with their associated project spend.
In contrast, our Anittel, Indirect, and Enablement businesses continue to perform strongly and I will offer further insights later in my address.
Summary of the FY17 Year
FY17 was a solid year on many fronts for the Inabox Group as we continued our drive toward the vision of being, “a leading managed telco, IT and cloud provider to mid-market corporates, SMEs, and consumer brands across Australia”. As stated at last year’s AGM, our clear focus on unified communications and hosted cloud, both public and private, along with tailored SME applications, such as Office 365, remains undiminished. In my address this morning I will share financial highlights from FY17, discuss Inabox’s strategic acquisition of Hostworks, as well as address our key focus for FY18.......