Jade loses less

Seven months of positive earnings spell good news for Christchurch company

Jade Software has improved its financial position sharply, posting a loss for 2004 of $3.2 million compared to a loss of $15.6 million the previous year. The 2004 loss was wholly attributed to interest on debt now repaid and losses in the first half of the year.

The company traded with positive EBITDA (earnings before interest, tax, depreciation and amortisation) each month for the last seven months of 2004, and for the current year is 15% ahead of revenue for the same period last year.

During 2004, Jade secured new capital of $25 million from Skipton Building Society and USA Health Investors.

Jade has also announced that Ipswich Building Society, in the UK, has bought a new Jade CRM system to unite information previously stored in separate systems and present a single view of each customer. The building society has used Jade for its core systems since May 2003.

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