Serko Results: Growth, Opportunity and Spending

Freshly listed New Zealand corporate travel management company, Serko, today reported its first results as a public entity, unveiling growth in revenue and transactions over the previous year while clocking up a loss of -NZD3.6m for the six months to September 30.

Chief Executive Officer Darrin Grafton said Serko – which is not expected to make a profit for at least two years – is on target to achieve its prospectus forecasts.

Revenue for the period was NZD4.7m and is forecast to exceed NZD11m for the financial year.

Costs will also surely grow with Serko saying it will increase head count to capitalise on new business opportunities.

“Cash held at 30 September 2014 was $8.3 million,” the company said.

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