20 Nov 2013

Short-term pain for long-term gain at Wynyard

8:48 am on 20 November 2013

Wynyard Group is bringing forward its staff recruitment in a bid to grow faster next year - but the move will mean a bigger annual loss this year.

The security software company expects to spend up to $1.5 million this year, which will allow it to bring forward recruitment of new staff to manage next year's sales in Australia, Asia, the United States and Britain.

Managing director Craig Richardson said the company was still on track to meet its 2013 revenue target of $21.5 million but its bottom line loss, projected in the prospectus at just over $10 million, was likely to be as much as $11.5 million.

It was too early to forecast how much next year's sales would increase above the $27 million predicted in the company's June prospectus, he said.

"We're making sure that as we go into 2014 that we continue to momentum that we've built this year," Mr Richardson said.

"Obviously bringing on new sales people, it takes time to induct them and rather than do that in the first quarter of next year when we have a strong sales pipeline already, we're putting the resources into doing that now."