Novatti Group Limited announced consolidated unaudited earnings results for the first half ended December 31, 2017. For the first half, the company reported revenue (excluding other income) of $2.3 million, up 108% on first half fiscal year 2017, with strong growth in recurring and transaction based revenue. Transaction revenue of $0.51 million, up from $0.06 million in first half fiscal year 2017. Loss before income tax expense was $1,595,110 against $1,895,046 a year ago. Loss after income tax expense for the half-year was $1,595,110 against $1,895,046 a year ago. Loss for the half-year is attributable to owners of Novatti Group Limited was $1,595,110 or 1.81 cents per basic and diluted share against $1,895,046 or 2.09 cents per basic and diluted share a year ago. Net cash used in operating activities was $371,190 against $2,054,774 a year ago. Payments for property, plant and equipment was $14,034 against $2,200 a year ago. LBITDA was $1,446,439 against $1,898,296 a year ago.

The company expects to deliver continued strong revenue growth into second half of fiscal year 2018, as it focuses on acquiring new merchants and driving increased consumer usage of its transactions-based technologies. The company is aiming to be profitable from operations before fundraising and other non-operating expenses. Additional services that have been incubated should commence contributing in second half of fiscal year 2018.