Vista Group beats forecasts

The cinema management software company has reported 55 percent year-on-year growth.

NZX-listed cinema management software specialist Vista Group has beaten forecasts made in its July public offering documents, reporting 55 percent growth year on year.

Revenue of NZ$47.2 million for the year ended December 31 was 4.4 percent up on forecast, while net profit of NZ$4 million beat a forecast of NZ$3.4 million.

The company, which inked a conditional deal to buy US-based Ticketsoft in February, said its global market share is now 38 percent.

Growth was driven by Vista Entertainment Solutions, which installed software at 1,103 new cinema sites, the company told shareholders. That included completing a 583-site rollout for Regal Cinemas in the US, and 230 sites for China-based DADI cinemas.

Cloud-based ticketing unit Veezi had 150 installed sites by the end of the year.

"Further development of the cloud-based software will enable more market requirements to be addressed, particularly in the USA," Vista Group said. "Work is being undertaken to enable an expansion into markets beyond USA, Australasia, and UK."

Movie marketing software unit Movio is "on target" since Vista fully acquired it last August. Movio Media, a studio analytics and marketing product, in in beta with studios with a full release expected in the second quarter.