Oneview.net looks to sales push for revenue growth

With no previous figures with which to judge the company's performance, the only comparison can be made with the company's own projections at the time of its IPO in October 1999 and judged in this context revenues were above those projections while losses were better than expected.

More importantly, since the end of October the company has managed to generate significant future revenues, with contracts worth 3.5m in the pipeline.

In terms of clients, during the 10-month period covered by the results, the company managed to establish 1,300 customer accounts, and since then this number has grown to more than 4,000.

The large size of the company's operating losses relative to its revenues - more than four times bigger - were due to administrative expenses of 1.76m and reflect Oneview's sales strategy which is focusing on the use of a direct sales force which “targets and nurtures local SME clients through a face-to-face approach.” The company is optimistic, however, that this strategy will be successful, reporting “revenue generating customer accounts increasing in line with the size and strength of the national salesforce.”

Oneview is also anticipating that its alliance with ISP Affinity Internet Holdings, announced on 12 November 1999, will also prove lucrative, with the company providing its services to Affinity's long list of business customers. The company is also targeting local Chamber's of Commerce to develop websites and portals for their members.

With revenues increasing strongly since IPO, the company's profitability will very much depend on its high cost sales strategy generating enough returns to justify the outlay. According to the company's post-results figures, this seems to be the case for now.