Following is an extract from RHP's recent annual report.

Total Group Sales rose 28% to $253m. Software licensing sales rose by 28% to $243m with Solutions sales rising 45% to $10m or increasing 27% excluding the impact of DBITS.

Total Group revenue rose 36% to $48.4m. Software license revenue increased 35% year on year to $38.7m. Solutions revenue rose 40% to $9.7m in FY19.

Revenue growth has been driven by strong momentum in public cloud via the Microsoft Cloud Solutions Provider program with rhipe’s partners now consuming more than 450,000 Office365 paid seats, up approximately 80% year on year and more than 600,000 Office365 seats in total including zero fee academic seats.

Annual Run Rate (ARR) sales from Microsoft CSP, including Office365 and Microsoft Azure, reached $80m at the end of FY19 compared to $42m at end of FY18 and $22m at the end of FY17.

Local Asian sales have grown by 75% excluding sales from ANZ customers buying through Asia.

Revenue billed in Asia in FY19 was circa $9m, broadly similar to rhipe group’s revenue at the time of listing in early 2014.

Expansion and increased profitability of our vendor and customer support operations in the Philippines which at the end of June 2019 had over 135 full time equivalent employees and helped Solutions deliver operating profit of $3.8m in FY19.

A strong increase in group profitability with operating profit increasing from $7.8m in the prior year to $12.8m for FY19, up 65% year on year.

Reported EBITDA for FY18 was $10m compared to an EBITDA of $6.4m in the prior year, an increase of 56% year on year; and