Restructuring efforts deal blow to eServGlobal

19 Mar 2009

Ongoing restructuring efforts, which will transfer headcount and infrastructure to low-cost locations in India and Romania, impacted heavily on eServGlobal's results in the first half ended Dec. 31, 2008.

Earnings before interest, taxes, depreciation and amortization (Ebitda) during the period plunged to A$7.1 million ($4.7 million) from A$13.2 million ($8.7 million) in the same period the year before.

The Ebitda for the half also reflected the capitalization of development expenditure worth A$2.5 million ($1.7 million), relating to the development of eServGlobal's HomeSend platform.

Revenue during the same period likewise fell to A$83.1 million ($55 million) from A$91.1 million ($60.3 million) the previous year.

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