iBuyNew Group Limited announced unaudited consolidated earnings results for the half year ended December 31, 2017. For the period, the company reported revenue of AUD 3,068,046 against AUD 1,609,745 a year ago. Operating loss before financing costs was AUD 140,734 against AUD 1,188,606 a year ago. Loss before tax was AUD 256,026 against AUD 1,235,015 a year ago. Net loss from continuing operations was AUD 256,026 or 0.015 cents per basic and diluted share against AUD 1,306,004 or 0.160 cents per basic and diluted share a year ago. Loss attributable to parent entity was AUD 256,026 against AUD 1,306,004 a year ago. Net cash provided by operating activities was AUD 362,190 against net cash used in operating activities of AUD 1,367,408 a year ago. Investment in property, plant and equipment was AUD 11,564 against AUD 14,633 a year ago. LBITDA was AUD 135,000 against AUD 1,157,000 a year ago. On underlying basis, the company reported EBITDA of AUD 90,000 against LBITDA of AUD 659,000 a year ago. Loss from continuing operations was AUD 31,000 against AUD 808,000 a year ago.

The Group expects a decrease in the cash flow in second half of fiscal 2018 due to reduced sales across the December/January period, and the requirement to repay AUD 337,000 in debt /deferred consideration relating to the acquisition of both iBuyNew and Nyko in the first half of fiscal 2017.