Wynyard's first-half losses grow

Wynyard Group, the intelligence software developer, widened its first-half loss while boosting sales 39 per cent and predicts faster revenue growth from the second half as it rolls out a new product.

The Auckland-based company said it posted a net loss of $17.6 million, or 14c a share, in the six months ended June 30, from $10.2 million, or 9c, a year earlier.

Revenue climbed to $14 million from $10.1 million a year earlier, with growth in Wynyard's New Zealand and British segments offsetting a decline in its Australian region.

Operating expenses rose 79 per cent to $11.5 million

The company plans to launch its new cyber threat analytics software in the second half of the year. It says it has a shorter sales cycle and should "deliver significant recurring software revenue" in 2016.

"FY15 revenue outlook is unchanged at this stage and new solutions will begin to smooth future period revenue volatility," Wynyard said.

"Based on the current sales pipeline, Wynyard continues to expect FY15 revenue in the range of $40 million to $45 million."

Wynyard is forgoing short-term profit as it chases global market share, and raised $42.6 million in a placement and share purchase plan in June and July, which will fund an expanded workforce and operations, and research and development. The company had cash and equivalents of $41.1 million at June 30, and raised a further $2.6 million through the share purchase plan after the balance date.

The shares last traded at $1.31, and have dropped 33 per cent this year. The shares were sold at $1.15 apiece in an initial public offering in July 2013, raising $65 million.

"While the placement was well supported, the board believes the current share price, driven by the thinly traded retail market, is not reflective of the company's value considering its market opportunity and relative to pre-IPO and listed peers in other tech savvy markets," the firm said.