EBITDA for FY18 of $2.7 million compared to $1 million in FY17, representing EBITDA growth of 166% year-on-year and $4.2 million over the last 2 years. Cash position of $3.2 million at at 30 June 2018, a 43% increase when compared with 30 June 2017.
More importantly, revenue growth has been rapid in the last 12 months. Swift’s FY18 revenue was $22.3 million, having delivered annual revenue growth of 31%. As at June 2018, Swift’s annualised contracted revenue increased 44% year-on-year to $15.7 million. The successful roll-out of the Company’s reseller and partnership strategy delivered 43% of all new sales in FY18, with further acceleration expected in FY19.
I read elsewhere that Hartley’s have recently updated their coverage on SW1 and maintain a 55c target and expect more revenue to come in FY19 from contracts secured over last 6 months due to timing issues. However, I have not personally read this report and this information is second hand although I have no reason to doubt its accuracy.
The SW1 share price finished the day at 40c, up 15.94% on yesterday’s close.
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