ESG Eservglobal Limited

 

TIDMESG 
 
RNS Number : 2894M 
eServGlobal Limited 
27 January 2009 
 
27 January, 2008 
eServGlobal Limited 
("eServGlobal" or "the Company") 
 
First Half Guidance 
eServGlobal Limited (LSE: ESG & ASX: ESV), a provider of end-to-end solutions, 
enabling smart communication and payment services for service providers on any 
generation network, today announces updated guidance for the half year ended 31 
Dec, 2008. 
The Company now expects to report half-year revenue of AUD$83million, compared 
to AUD$91m in the corresponding period in 2007.EBITDA for the period was 
impacted by costs associated with migrating infrastructure to lower cost 
locations and is forecast to be above AUD$4.5m. However, this restructuring is 
expected to bring subsequent cost savings. The cash balance at 31 Dec, 2008 was 
AUD$10m and the Company continues to be debt free. 
The outlook for the full year FY2009 is for revenue above AUD$180m.  In the 
current environment, there is risk associated with the timing of high value 
contracts that may affect the final revenue and EBITDA result.  The Company will 
provide an updated forecast with the audited half year results on 23 February, 
2009. 
Mr. Ian Buddery, Executive Chairman of eServGlobal, said, "As foreshadowed in my 
AGM address on 5 Nov, 2008, we have experienced weaker market conditions in the 
first half of our financial year. We commenced our restructuring programme in 
October, with all costs accrued, which will begin to bring cost savings in the 
second half, taking full effect in the 2010 fiscal year. 
"We now have a recovering sales pipeline and the opportunity to improve our 
outlook; however, telecoms operators may choose to delay major projects, which 
leads us to be cautious in our forecast for this year. 
"We enjoyed several highlights in the period, including significant new customer 
wins in North America and Latin America.  We have maintained our investment in 
R&D in 2008 and will be launching major new products at the upcoming Mobile 
World Congress in Barcelona (16-19 Feb, 2009). Our Mobile Remittance product 
carries strong potential, as it represents both a new revenue channel for 
operators and a cost saving for subscribers, both of which are attractive 
offerings in the current economic climate." 
For further information: 
+------------------------------------------+-----------------------------------------------+ 
| Ian Buddery                              | Numis Securities Limited                      | 
| Executive Chairman                       | Brent Nabbs (NOMAD) / David Poutney (Broking) | 
| eServGlobal Limited                      | Tel: +44 (0) 20 7260 1000                     | 
|                                          |                                               | 
+------------------------------------------+-----------------------------------------------+ 
| ICIS (financial PR)                      | eServGlobal Limited                           | 
| Christian Taylor-Wilkinson / Bob Huxford | Sally Bennett, Communications Manager         | 
| Tel: +44 (0) 20 7651 8688                | sally.bennett@eservglobal.com                 | 
|                                          | T: +33 1 46 12 77 46                          | 
+------------------------------------------+-----------------------------------------------+ 
 
About eServGlobal 
 
eServGlobal (AIM: ESG & ASX: ESV) develops and implements solutions for mobile 
payment, convergent charging and rating, network services and messaging 
products, for telecom service providers, across all legacy and next generation 
telecom networks. 
eServGlobal provides comprehensive services ensuring the success of projects 
with worldwide implementation, integration and support services. Its innovative 
solutions help service providers to grow new revenues, reduce churn and lower 
their costs. 
Over 80 of the world's leading service providers, with over 400 million mobile 
subscribers in more than 50 countries, are taking advantage of eServGlobal's 
end-to-end solutions and expertise to quickly deliver revenue-generating 
services. With 16 offices around the world and staff from 30 different 
countries, it provides flexible solutions with ongoing product development, 
based on a deep understanding of its customers' challenges. 
eServGlobal is listed on the Australian Stock Exchange (ASX: ESV) and the London 
Stock Exchange AIM market (LSE: ESG). In the year to 30 June 2008, eServGlobal 
reported revenue of AU$177.9 million, representing organic growth of 15.9% over 
FY07. Net profit after tax of AU$10.4 million was achieved, up 91.5% from the 
previous year. A dividend of 3 cents per share was paid for the full year ended 
30 June, 2008, an increase of 50% over the previous year's dividend payment. 
More information can be found at: www.eservglobal.com. 
 
Ian Buddery 
Executive Chairman 
eServGlobal Limited 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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