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eServGlobal Limited (ASX:ESV) Announces Upgrade to Cash Position
Sydney, July 3, 2008 (ABN Newswire) - eServGlobal Limited (LON:ESG)(ASX:ESV), a provider of end-to-end solutions, enabling smart communication and payment services for service providers on any generation network, yesterday announced its net cash balance at 30 June, 2008.
Earlier this year, the company forecast a cash balance of AUD$13million.
Continuing focus on the invoicing and collections process, including an investment in people and systems, has produced a net cash balance of AUD$18.2million, representing a 45% improvement over the 30 June 2007 cash balance of AUD$12.5million.
"Over the course of the second half, we focused on achieving improvements to our cash collection process." said Mr. Ian Buddery, Executive Chairman of eServGlobal. "With the contribution of our dedicated staff and the benefit of new systems, we now believe that we will continue the positive trend into 2009, which allows the board to evaluate further actions to support shareholder value. All of this is being achieved whilst we fund the growth of our business, the growth of our delivery capability and record levels of investment in new products."
About ESERVGLOBAL LIMITED
eServGlobal (LSE: ESG & ASX: ESV) invents smart communication and payment services for telecommunications service providers operating on all generation networks.
As payment is crucial, eServGlobal's Charging Suite responds to increasingly sophisticated charging and billing challenges while providing advanced recharge and m-payment solutions. The innovative Retention Suite delivers targeted incentives to increase customer satisfaction and retention. Meeting customer demand for new communication experiences, the eServGlobal Messaging Suite enables reliable delivery of multimedia services such as unified messaging, video blog, SMS, and instant messaging. The Network Suite supplies enhanced personalisation and network optimisation.
Over 80 of the world's leading service providers, with over 500 million mobile subscribers in more than 50 countries, are taking advantage of eServGlobal's end-to-end solutions and expertise to quickly deliver revenue-generating services. With 15 offices around the world and 750 staff from 20 different countries, we provide flexible solutions with ongoing product development, based on a deep understanding of our customers’ challenges.
eServGlobal is listed on the Australian Stock Exchange (ASX: ESV) and the London Stock Exchange AIM market (LSE: ESG). More information can be found at: www.eservglobal.com
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