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.”

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags jade

Show Comments