MELBOURNE – January 29, 2004 - destra Corporation Limited (ASX: DES), announced today its 4C Statement for the 2Q ending 31 December 2003 showing cash at bank position of $1.194M; a 65% increase in revenue; leadership in online music and an EBITDA profit of $0.053M
destra is Australia’s Second Largest Virtual Hosting Service Provider (OzHosting.com). Their stake in online music includes operating as the sole provider of new music to radio stations via the Internet (MusicPoint.com.au) as well as being Australia’s Largest Digital Music Provider (DestraMusic.com) giving it a strong position to capitalise on the emerging online music market.
The financial reports for the period ended December 31 2003 show revenues of $3.941M, an increase of 65% from 1H 2002: $2.392M. Earnings Before Interest Tax and Depreciation of $0.053M, an improvement of $0.876M from 1H 2002 and a total loss of ($0.231M) compared with a loss of ($1.332M) in 1H 2002.
Aegis Equities have released a research report that provides the marketplace with an evaluation of destra’s opportunity in digital music. Aegis also values destra at 33 cents.