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CPT GLOBAL LIMITED — Capital/Financing Update 2015
Jul 5, 2015
64642_rns_2015-07-05_d1f7898a-be73-444c-9b9d-32aa4f382793.pdf
Capital/Financing Update
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Independent Experience
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CPT GLOBAL LIMITED (ASX: CGO) Business Update
CPT Global announces that the expected return to profitability in the second half of FY2015 included in the outlook in the 31 December 2014 Half-Year Report has not eventuated.
The issues CPT Global experienced in the first half of FY2015 have continued throughout the financial year and the loss in the second half of the financial year will exceed the half year net loss after tax of $0.3m.
In Europe it was expected that risk/reward contracts would generate more revenue in the second half of FY2015, however, some risk/reward revenue will now be recognised in the first half of FY2016. CPT commenced a phase two contract in April 2015 which is expected to complete in October 2015.
Delays in commencing client engagements continued in North America due to factors outside CPT’s control. These delays have put significant pressure on revenue in North America.
The Australian IT market conditions continue to be tight with pressure on rates and margins. Whilst CPT still expects the Australian operational performance to strengthen due to the increased opportunities within the finance sector and the re-emergence of state and federal government projects, the timing of the benefits is forecast to begin to flow to CPT during FY2016.
CPT has invested significant time and resources during FY2015 in establishing strategic alliances with two large multinational software companies. Both alliances will provide CPT with enhanced sales capability and market coverage across Europe, North and South America and Australia. Revenue from these alliances will begin to be recognised during FY2016.
For further information please contact:
Mr Gerry Tuddenham, Managing Director.
Telephone +61 3 9684 7900
About CPT Global Limited
CPT Global is a specialised consultancy with two focus areas. Its Technical Consulting services enhance the control, quality, stability, efficiency and reliability of all technology platforms with core offerings of Capacity Planning, Performance Management and Testing. Its Management Consulting services review and improve the business processes associated with Information Technology, with offerings that include Program and Project Management, IT Governance Reviews, Strategic Sourcing Strategies and Technology Transition Planning.
CPT Global Limited ABN 16 083 090 895
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Independent Experience
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AUSTRALASIA
Melbourne
Level 1, 4 Riverside Quay Southbank, VIC 3006 Telephone +61 3 9684 7900 Facsimile +61 3 9684 7999
Sydney
Suite 3, Level 5, 80 Clarence St. Sydney, NSW 2000 Telephone +61 2 8234 7400 Facsimile +61 2 8234 7499
Canberra
Level 6, 39 London Circuit Canberra City, ACT 2601 Telephone +61 2 6206 9700 Facsimile +61 3 9684 7999
AMERICAS
New York 410 Park Avenue, 15th Floor New York NY 10022 Telephone +1 917 210 8668 Facsimile +1 917 210 8182
Toronto
100 King Street West, Suite 5600 Toronto, Ontario M5X 1C9 Telephone +1 416 642 2886 Facsimile +1 416 644 8801
São Paulo Al. Europa 1206 – Santana de Parnaiba - SP – CEP 06543-325 Telephone +55 11 8454-0869
EUROPE
London
Parkshot House, 5 Kew Road Richmond , Surrey TW9 2PR Telephone +44 20 8334 8085 Facsimile +44 20 8334 8541
Munich Landsberger Str. 302 D-80687 Munich Telephone +49 89 9040 5955 Facsimile +49 89 9040 5965
Paris 140 bis rue de Rennes 75006 Paris Telephone +33 1 70 38 23 21 Facsimile +33 1 70 38 23 00
Singapore 10 Anson Road #32/15 International Plaza Singapoe 079903 Telephone +65 6226 2555 Facsimile +61 2 6206 9799
www.cptglobal.com
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CPT Global Limited ABN 16 083 090 895