Cape Range Ltd (ASX:CAG) Reports Strong Quarterly Growth
Quarterly Performance Highlights
Cape Range Ltd (ASX:CAG) has announced significant growth in the December 2024 quarter, with Biztrak Business Solutions generating revenue of RM730k (AUD255k), a 23% increase from RM593k (AUD209k) in the prior year. Cash receipts from customers saw an even larger surge, reaching RM829k (AUD293k), up 68% compared to AUD174k from the same quarter in 2023. The enhancements in revenue and cash flow are attributed to product improvements and training services linked to Malaysia’s e-invoicing rollout.
Financial Overview
Despite an increased net cash outflow of AUD148k due to higher investment in advisory costs, Cape Range Ltd managed to reduce its total annual cash outflow to AUD384k from AUD424k the previous year. The company concluded 2024 with AUD1.52 million in cash and cash equivalents, highlighting a stable financial position.
Future Outlook
Looking ahead, Biztrak is focused on aiding clients in e-invoicing compliance, as many accounting software users must meet regulatory requirements by 1 July 2025. The company anticipates a boost in demand for training and software upgrades to support this transition.
Product Developments
Biztrak reported ongoing advancements to its software portfolio. Efforts include improving its MSB accounting software for e-invoicing compatibility and integrating new features. Enhancements to Biztrak Online and WMS software systems continue to refine client services and reporting functionalities.
Business Engagement
The Biztrak team has been actively nurturing prospects from recent industry expos, ensuring alignment between their solutions and market needs to capitalise on emerging opportunities. The commitment to client engagement and product excellence forms a key part of Cape Range’s strategy going forward.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.