Plexure considers consolidating stock listings after loss

Marketing software company Plexure has reported a first half loss, with plans to restructure the business and cut costs, sending its shareprice plunging.

Company chief executive Daniel Houden, who joined Plexure a month ago, said discussions would focus on returning the company to profitability and would cover customer services and overhead reductions.

Among the options was to consolidate Plexure, which was currently dual listed on the Australian and New Zealand stock exchanges, into a single listing.

"Our strategy will focus on delivering better service for our existing customers, faster returns on investment and profitable growth," Houden said.

The review would also include Plexure's recently acquired Australian e-commerce business Task Retail, which it bought for $AU120m in August, and doubled the size of the group.

The company said Task's growth had been slowed by an industry-wide supply shortage of hardware, which delayed the rollout of sales and software installations.

During a briefing on the result Houden said the company could not give an earnings forecast because of uncertainty, with further comments from the chief financial officer that the previous forecast range of between $45 million and $47m had been withdrawn.

However, several hours later the company issued a statement saying the forecast remained in place.

"In the investor call this morning the CFO made an error in responding to a question that guidance was being withdrawn."

Plexure chair Phil Norman said the the board had confidence in the new leadership team to transform the business.

"The board are positive about the opportunities presented by the merger with Task and are confident that, post transformation, the combined business will have long term benefits for all stakeholders," Norman said.

The company's share price closed down more than 13 percent to an eight month low of 45 cents.