- Cloud channel company, Rhipe (RHP) has updated the market on its third-quarter performance
- Following the withdrawal of its market guidance for the financial year and cancelling its interim dividend, the company is pleased with its performance so far
- Rhipe has seen a sales growth of 32 per cent and revenue growth of 19 per cent, compared to the previous corresponding period
- As of the end of March, Rhipe has $23.5 million in cash
- On market close, Rhipe is up 5.04 per cent and is selling shares for $1.77 each
Cloud channel company, Rhipe (RHP) has updated the market on its third-quarter performance.
Following the withdrawal of its market guidance for the financial year and cancelling its interim dividend, the company is pleased with its performance so far.
Rhipe has seen a sales growth of 32 per cent and revenue growth of 19 per cent, compared to the previous corresponding period.
The company says the growth in sales of Microsoft’s Cloud Solutions Provider products continues to drive its sales and revenue trends.
Its operating profit is up 14 per cent to $9.7 million, excluding the new Japanese joint venture, compared to this time last year. Operating growth was up five per cent with the joint venture.
The new joint venture has now signed up to 10 partners in the first sale.
As of the end of March, Rhipe has $23.5 million in cash.
“Historically the last quarter of our financial year is our strongest but as the outlook remains difficult to predict Rhipe considers it appropriate not to provide any guidance around Q4 performance,” the company said.
On market close, Rhipe is up 5.04 per cent and is selling shares for $1.77 each.