Sarment Holding Limited ("SAIS") Announces Q2 2019 Results
- SAIS continues to focus on developing and marketing its ground-breaking Customer Experience Management technology and digital media services.
- Operating net loss of continuing operations of US$2.6 million is directly attributed to SAIS' current transition period as it concludes the sale of its traditional distribution business.
TORONTO, Aug. 27, 2019 /CNW/ -- Sarment Holding Limited ("SAIS" or the "Company") (TSXv: SAIS), a provider of advanced technology solutions, business intelligence and supporting services announced today its second quarter financial results for the period ended June 30, 2019.
For the three months ended June 30, 2019, the revenue of the Company's traditional business, Sarment, and of Kaddra have been split. The latter, SAIS's Customer Experience Management ("CEM") solutions technology and media services business has started to sell and the Company has registered US$31,000 during this period. It has also confirmed a sales order book of nearly US$0.6 million as of June 30, 2019.
The Company's operating loss of US$2.6 million for continuing operations in the second quarter of 2019 is attributed to the Company's current transition period, as it concludes the sale of its traditional wine and spirits distribution business, to a private consortium of shareholders (the "Transaction"). The information regarding the Transaction has been disclosed in the Management Information Circular, which are available on SEDAR at www.sedar.com.
"We have significant work ahead of us as we focus our priorities on developing and marketing our technology and digital media services," said Quentin Chiarugi, Chief Executive Officer of SAIS.
This Transaction will be approved in the upcoming Annual General Meeting and Special Meeting on August 30, 2019. The Transaction provides major benefits for the Company once it's closed. The structure of the Transaction would relieve the Company of all its shareholders loans thereby significantly improving SAIS' balance sheet. It will also enable the SAIS management to fully dedicate itself to accelerate Kaddra CEM technology and media solutions business.
Kaddra's flagship product, a sales and marketing platform, enables businesses to digitalise their customer experience and is the result of over several years of research and development by SAIS.
"SAIS has developed a strong internal technology team and built an all-in-one platform, clearly ahead of competitors with its faster integration, ease of use and lower costs. This technology know-how, was coupled with insights from other in-house personnel - seasoned salespeople and marketers from various industries - who knew the exact core functionalities the platform required to provide an optimal customer experience," stated CEO Quentin Chiarugi.
The Company's CEM solution is a proprietary cloud-based software enabled to manage a mobile digital marketplace, marketing tools and campaigns as well as collating uninterrupted users' behavioural data to provide insights to re-target and engage at a personal level with the users.
"The Kaddra platform is available for clients in the form of a subscription service, providing them with the entire front and back end of the platform to connect their offering of products, content and services to their customers. This CEM solution delivers highly-secure transaction capabilities with high-volume availability and big-data gathering on a permission-marketing basis, fully supporting customer service via a live chat paired with proprietary AI Sentiment Analysis Tool. Kaddra's platform and methodology supports a tiered approach providing enterprise clients with the ability to differentiate products and services provisioning between various levels, thus increasing engagement and retention with desired customers advancing in service levels when positioned into specific tiers," Will Beattie, SAIS's Chief Technology Officer, explained.
"SAIS will now be focused on commercialising its leading Kaddra CEM technology platform to deliver a new phase of technology led growth which is supported by our continuing shareholders, many of whom invested with us because of our CEM technology platform," Quentin Chiarugi concluded.
Post June 30, 2019, SAIS has successfully signed three clients to the Kaddra platform, and the sales pipeline of potential clients is also growing.
About SAIS
Singapore-based SAIS is a provider of advanced technology solutions, business intelligence and supporting services. Across our units, we connect businesses with their customers through end-to-end intelligent solutions. As a global leader in the development of Customer Experience Management (CEM) platforms, we are focused on utilising AI to create technology aimed at providing unique digital experiences, and crafted to foster ground-breaking client-customer relationships.
To learn more about SAIS, visit our website: sais-group.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Deborah Krish
SAIS
[email protected]
(65) 6424 0411
SOURCE Sarment Holding Limited
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