Plexure accelerates growth and focuses on US expansion

Mobile engagement software company Plexure has continued its aggressive growth, with revenue increasing 45% to $11.8m for the 6 months ending 30 September 2019. Cash at bank has increased 121% to $13.6m over the same period and includes a $5.4m investment from McDonald's earlier in the year, in return for a 9.9% stake in the NZX-listed company. Plexure plans to use these reserves to further accelerate sales growth in the US and will be investing in sales, marketing and product development to drive this outcome. There will also be ongoing platform investment to build capability to support up to 500 million end users. Chief Executive Craig Herbison says the Company is committed to enhancing its offering and is now in a prime position to execute for growth. "We continue to roll out Plexure globally, and we will be investing in technology and people to make sure we can support escalating transaction volumes and new customers while continuing to innovate. "We have developed a range of new products including AI-enabled fraud detection, offer engagement, price optimisation and advanced analytics tools, and anticipate launching more innovative AI driven capabilities in the coming months. "Plexure is now firmly in the growth phase and we will be looking at investment and expansion opportunities, particularly in the US market," says Mr Herbison. For further information please see the attached Interim Financial Statements and market announcement. ENDS For more information, please contact: Craig Herbison, CEO Plexure Mobile: +64 27 262 2260 Email: craig.herbison@plexure.com Andrew Dalziel, CFO Plexure Mobile: +64 27 6777 575 Email: andrew.dalziel@plexure.com End CA:00343469 For:PLX Type:INTERIM Time:2019-10-31 08:30:09