The Directors of data and transaction services company Connxion Ventures Limited (ASX: CXN) today announced that based on June billings and unaudited financial accounts, full-year revenue for 2010 are now expected to be $12.6 million, a 14.5 percent increase on the previously announced forecast of $11 million.

As a result, there will be a corresponding positive effect on EBITDA, the company said in a statement. The forecast represents an increase in excess of 300 percent on reported FY2009 revenue of $3.9 million.

Connxion Ventures reconfirmed that forecast revenue for FY2011 of $38 million is based on contracted revenue only, and does not include any forecasts from new joint venture agreements recently announced in China, or potential revenue from tendering opportunities currently under negotiation.

The company said it will update shareholders on the positive impact to FY2011 forecasts from the above initiatives when appropriate.

Connxion Ventures is a data and transaction services company providing online, data, rewards and e-billing services. The company has operations in Australia, Singapore, Hong Kong and China, and earns revenue from collecting, analysing and utilising data for its clients so they can in turn attract, retain and transact with their own customer bases. Its clients include some of the world's leading blue chip organisations operating in the telco/utility, transport and logistics, hotel and leisure, and financial services sectors.