Investor AGM Update
26 November 2021
Overview
2021 has been a challenging year where covid-19 continued to create market uncertainty and volatility. It has however provided opportunities to grow and improve. Enprise is confident it has measures to mitigate further covid-19 impacts and to support an ambitious growth strategy over the coming years.
Significant cost pressures have arisen, particularly in relation to retaining and recruiting staff (The Great Resignation). This has resulted in us needing to increase salaries across the board. We have however, only been able to increase prices and adjust contracts several months after these salary increases were implemented. The fact that we were unable to match the revenue increases simultaneously with the salary increases will negatively impact the profitability in the half year results, however we expect this to be corrected in the 2nd half of the financial year.
The revenue, including annual renewable revenues in all our investee companies has continued to grow well.
At 31 October 2021, Enprise had no debt, cash reserves of $1.11 million and $2.72 million in undraw bank facilities.
Group unaudited management information for the 4 months ended 31 October 2021, Revenue $5.755 million (2020 $5.234 million), 10% increase.
Elliot Cooper
CEO
0275615501
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