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MWR Trading & Sales Update - Jan 2019

Posted by Justin Rosenberg on 10-Jan-2019 08:56:08
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We're expecting MWR to bounce after their positive sales update announced after market close yesterday. 

Highlights from the announcement:

• SPACETALK reports strong pre-Christmas sales peaking at 1,300 units a week
• Approx. 15,100 SPACETALK units sold since the Oct-17 launch to date;
− 10,989 units sold in 1H FY19
− includes over 9,000 units sold leading into Christmas
− over 10x the number sold in the same period last year
− over 6x the number sold in the 9 months from launch to the end of FY18
• Bricks and mortar retailers continue to re-order ahead of ‘back-to-school'
• Post-Christmas sales continue in ‘back to school’ promotionSpacetalk watch
• Recurring App revenue exceeded $30,000 per month in December with over 6,200 active subscribers
• Total Company 1H FY19 revenues exceeded $4.00 million (un-audited), an increase of 154% the same period in FY18
• Cash balance circa $2.5 million (unaudited) at December 31
• Negotiations underway with European telcos and retailers with first European launch
expected this financial year
• MGM Supports NSW Government ban of mobile phones in primary schools

 

Click here for the full announcement.

Please contact us for further queries or subscribe (on the right of this page) to receive further updates.

 
Justin Rosenberg

Corporate Finance - Executive Director

Gleneagle Securities (Aust) Pty Limited

Level 27, 25 Bligh Street, Sydney NSW 2000

Ph: +612 8277 6683

Email: justin.rosenberg@gleneagle.com.au

Topics: Technology, microcap, Announcement