Drives Growth In Asia Through Branded Wine Business
Sydney, Sep 1, 2015 AEST (ABN Newswire) - For the year ended 30 June 2015, the group reports a net profit of $308K. This represents a 667% increase when compared to last year's reported profit of $40K.
EBITDA gain for the year was $0.864 million compared to an EBITDA gain of $0.590 million the previous year.
Revenues from ordinary activities in the financial year ended 30 June 2015 were $4.848 million compared to $4.320 million in the financial year ended 30 June 2014. Revenues in the Power Management and IT&T divisions for the financial year of 30 June 2015 decreased when compared to the previous financial year. However, the Asian Business Division experienced an increase in operating profit of 26% contributing to an overall increase in operating revenue of 12% for the group.
Wine Power Pty Ltd, which is under the group's Asian Business Division developed its own range of prestigious wines, "8 Eagles" (www.winepower.com.au). It was with great honour that the 8 Eagles Platinum Label 2010 Shiraz was awarded a Bronze medal in the category of Shiraz 2011 to 2009 in the Royal Melbourne Wine Awards 2014.
Additionally, 8 Eagles Red Label 2009 Shiraz was a finalist at the Sydney International Wine Competition for 2015 which meant it was rated amongst the top 20% of total entries judged with food.
The company also distributes prestigious wines such as Penfolds, Wolf Blass, Wynns Coonawarra Estate, Rosemount Estate, Lindeman's and Saltram to name a few.
Outlook
As announced to the market on 5 August 2015, ASX has re-classified BPG's GICS code from Information Technology, Software & Services to Consumer Discretionary, Retailing in order to reflect its existing business focus in the Asian Business Division.
The group continues to explore export opportunities into Asia in order to further develop the Asian Business Division and to continue to build up the profile and management team. Wine Power continues to develop and market its 8 Eagles brand as well as its existing portfolio of wines throughout Australia and Asia. Despite the slow global market, the group believes there is still potential for significant growth as the group's business is still at its infancy.
Although growing the Asian Business Division has been a main focus for the company over the last 2 years, the group continues to run the IT&T and Power Management businesses. While the sector remains to be difficult, the group continues to explore current and new opportunities within these segments.
Based on the positive outcomes over the recent years, the Board anticipates the group to continue its growth as new and existing opportunities continue to be developed.
To view the full report, please visit:
http://media.abnnewswire.net/media/en/docs/80845-ASX-BPG-876485.pdf
About Byte Power Group Limited
Byte Power Group Limited (ASX:BPG) is a diversified technology solutions group with a particular emphasis on securing Asian business opportunities.
Through Wimobilize, the Group has a new cutting edge technology solution, a proprietary Advance Hybrid Artificial Intelligence Big Data Technology Platform consisting of 31 Advance Analysis Engines, 4 levels of Hybrid Correlation and Al Profiling Algorithms customised for governmental, healthcare, banking, telco and tourism industries. This proprietary Big Data technology platform elevated the AI Predictive Analysis and deep insight intelligence to a new paradigm, applicable to any market segment.
This Wimobilize Big Data technology powered e-commerce ecosystem will provide the next generation innovative trading platform for distributing the Company's Australian wine, organic honey and honeycomb.
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