Join our daily newsletter At The Bell to receive exclusive market insights
- Gratifii (GTI) expects to bring in $2.9 million in revenue over Q2 FY22, eclipsing its previous estimate of $2.1 million
- The 37 per cent increase in revenue has been driven by an uplift in business in Victoria now that COVID-19 restrictions have eased
- The loyalty and rewards business also credited the spike to the reopening of large parts of NSW and improved trading conditions in South Africa
- GTI expects to end December cashflow positive and for the positive revenue growth to continue in FY22 when its Click Frenzy deal goes live
- Company shares are up 3.7 per cent at 2.8 cents each
Rewards and loyalty company Gratifii (GTI) expects to bring in $2.9 million in revenue over Q2 FY22, eclipsing its previous estimates.
The business released a trading update on Friday revealing it expected to beat the October revenue estimate of $2.1 million by 37 per cent.
The $2.9 million revenue figure also represents a 65 per cent jump on the previous September quarter’s revenue result.
GTI has credited the revenue jump to an uplift in business in Victoria and NSW now that COVID-19 restrictions have eased.
Gratifii Executive Chairman Iain Dunstan said improved trading conditions in South Africa also helped.
“Trading in South Africa has improved on the back of opening after COVID restrictions, notwithstanding the new variant, with some negative impact from currency movements,” he said.
“Key driver of the expected revenue outcome is growing volumes in the reward business supported by the opening of Victoria late in October 21.”
“We expect these conditions to continue through December 2021 and into the March 2022 quarter.”
Gratifii expects to end December cashflow positive and for the positive revenue growth to continue in FY22 when its Click Frenzy deal goes live.
The company is setting up a Card Linked Offer for Click Frenzy’s 1.7 million customers, with first transactions to begin in February.
GTI shares were up 3.7 per cent at 2.8 cents each at market close.
