Jade reports 17% profit boost

Six-monthly result comes from marginally lower revenues

Jade Software has reported marginally lower revenues, of $20.94 million, for the six months to June 30, but has seen a 17% increase in its after-tax profits — from $1.61 million, in the corresponding half of last year, to $1.89 million.

After-tax profits excluded the impact of divestments, which contributed $2.97 million in the first half of 2007 and $4.06 million in the comparable period last year. Excluding revenue associated with profits from the sale of its health business, first-half revenue was down 4.4% compared with the previous year.

Managing director Rod Carr says the company has been cash-flow positive and profitable for 10 consecutive quarters.

“It was a good outcome in difficult trading conditions. Because 35% of our revenue is earned in British pounds and 15% in Australian dollars, the high exchange rate in the first half of 2007 put downward pressure on revenue from our core business.

“Looking to the second half, we have a full order book and are well placed from any decline in the exchange rate, even more so after our recent acquisition of Methodware, which prices in US dollars.”

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