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- MSL Solutions (MPW) has not yet felt the impact of the COVID-19 outbreak
- The company assured shareholders its financial position is currently supported by strong recurring revenues
- MSL delivers software solutions to the sports, leisure and hospitality industries across 25 countries
- Its operations haven’t been materially impacted, but it does expect a decline in new deals and opportunities
- Despite this, its software solutions are set to benefit from recent government restrictions of large crowds
- MSL Solutions is down a significant 32.5 per cent with shares trading for 2.7 cents each
Sports and leisure software company MSL Solutions (MPW) has reported not yet feeling the impact of the COVID-19 outbreak.
The company assures that business is currently supported by strong recurring revenues equating to 68 per cent of total revenue for the half one period of the 2020 financial year.
MSL is an Australian-based global provider of Software-as-a-Service (SaaS) and on-site deployed solutions to clients in sport, leisure and hospitality sectors. It has roughly 1220 customers across 25 countries.
The company offers golf clubs and associations a full software and hardware solutions to provide “exceptional experiences”.
MSL’s golf footprint has continued to grow since the deployment of its WHS (World Handicapping System) technology across seven golfing nations since late January 2020 to over 1.4 million golfers.
There haven’t been any cancellations of implementation work, whilst recurring revenue from point-of-sale and analytics continue to contribute to overall revenues.
“Naturally we expect new business or non-recurring business to decline in the short term,” the company stated.
“However our pipeline remains strong, with various customers looking at their immediate downturn as a time to refresh and upgrade.”
The company’s MPower POS analytics solution may even benefit from recent government restrictions around the number of people in one public space.
MPower POS digitally makes operations, customer engagement and management much more efficient.
Being able to optimise its solutions and services help MSL contain its costs. The company is also managing costs by reducing non-essential staff.
MSL also announced staff across its global operations can work from home and are well equipped to work remotely.
“The business will continue to closely monitor developments related to COVID-19 across all its global operations, and provide further disclosures if required, in line with its obligations,” the company stated.
MSL Solutions is down a significant 32.5 per cent with shares trading for 2.7 cents each at market close.
