Wynyard on track to meet prospectus target for FY sales, Richardson says

Wynyard Group, the software company spun off from Jade Software last month, is on track to meet its prospectus forecast for full-year sales after posting its interim results, said managing director Craig Richardson.

Wynyard Group [NZX: WYN], the software company spun off from Jade Software last month, is on track to meet its prospectus forecast for full-year sales after posting its interim results, said managing director Craig Richardson.

The interim results show sales of $5.6 million for the three months ended June 30, for a net loss of $3.1 million, the Auckland-based company said in a statement. Pro-forma figures for the six months ended June 30 show revenue jumped 51 percent from a year earlier to $10.3 million, it said.

Wynyard raised $65 million in its initial public offering at $1.15 a share, at the low end of its indicative range of between $1.10 and $1.65 in the firm's prospectus. The shares last traded at $1.29, up 0.8 percent on the day.

Richardson said based on the first-half performance, the company was on track to meet its full-year target for revenue of $21.5 million.

Wynyard's software and solutions protect customers from computer threats, crime and corruption, according to its website. It has more than 400 clients globally including New Zealand's Serious Fraud Office and the New Zealand Police.

(BusinessDesk)