SLI growth close on forecast

Last updated 11:24 28/07/2014

Relevant offers


What happens to low income kids when you give their parents some money? Freshly single? Here's how to reach financial freedom Renting continues to outstrip home ownership growth When it comes to wills, there may not always be a way, court rulings show Lending rules may hit rental supply Ten ways to stop throwing your money away Event Cinemas' $1 million competition misleads consumers, watchdog says Families forced into cremation by lack of funds Planning rules forcing Aucklanders to build bigger houses US department store Neiman Marcus publishes luxury Christmas gift catalogue

Shares in NZX-listed e-commerce company SLI have jumped after it reported a 16 per cent rise in revenues in the year to June.

The to $22 million revenue was roughly in line with its prospectus forecast of $22.2m. However, its annualised monthly revenue in June was $25m, a little further shy of its $26m prospectus forecast.

SLI's shares were up 8.5 per cent at $1.41 in late-morning trading after the announcement.

Chief executive Shaun Ryan said the company's as-yet undisclosed loss would be smaller than its $7.2m forecast because it was slightly behind schedule building up its sales and marketing team. Last year it posted a $2m loss.

The results are unaudited - audited results due are to be published on August 26.

SLI's "self-learning" cloud-based software is used by 510 online retailers to make it easier for customers to find products on their websites.

It floated on the NZX in May last year.

After climbing as high as $2.95, its shares subsequently sagged and closed yesterday 13 per cent below their original $1.50 issue price.

"Revenue has benefited from the good progress we have made recruiting large e-commerce sites, which take longer to engage but generate higher average monthly revenue and provide an outstanding opportunity to showcase SLI's capabilities to a greater number of this type of customer," Ryan said.

"We continue to look forward to the 2015 financial year with confidence in our ability to take advantage of the operating resources we have built during the year and the significant opportunities we see for the business."

Ad Feedback

- The Dominion Post

Special offers

Featured Promotions

Sponsored Content