Strong Second Half Growth for Prophecy
Released 9 August 2000
Preliminary consolidated 2000 year end results for Prophecy International
Holdings Limited indicate that second half revenues will show a
significant increase over the same period last year, although the
full year revenues are expected to fall slightly below the 1999
result. The slow start in the first half which was influenced by
Y2K fears has been a major contributing factor to the full year
result as have a number of sales campaigns late in the financial
year which were not able to be recognized for revenue purposes.
Trading for the second half is expected to show a healthy profit
compared to the first half loss position. Overall, the full year
P&L is expected to result in a small loss.
The trend in revenue growth and profit displayed in the second half
is a positive one and the directors expect that trend to continue
into the 2001 financial year. Prophecy operates in a market characterized
by a relatively small number of large dollar value sales and the
timing of those sales can impact revenue in any one accounting period.
Orders not able to be recognized for revenue purposes in the full
year result are therefore expected to provide a healthy start to
the new financial year.
Prophecy has had continued success during the year with its unique
Framework software for rapid application assembly. This software
has now been incorporated within a new all encompassing group of
products marketed under the e-Foundation banner.
The Prophecy e-Foundation product set will be the focus of sales
and marketing as well as partner sales activity in the coming year
and is expected to make a significant impact with organizations
seeking to shorten their development cycle and increase the flexibility
of their application solutions in the world of e-commerce.
Final full year results for the 2000 year are expected to be available
by the end of August.