Spectrum Resources sees operating surplus

Technology investor Spectrum Resources says billing software company WEL Technology was the main factor in it being able to report an operating surplus after tax for the half year to December 31, 2000.

Technology investor Spectrum Resources says billing software company WEL Technology was the main factor in it being able to report an operating surplus after tax (and extraordinary items of $120,000) for the half year to December 31, 2000.

For the corresponding period in 1999 Spectrum reported an operating deficit of $265,000. Spectrum says WEL Tech achieved its forecast level of performance and has appointed three senior business development managers - two in the US and one in Australia - and strengthened its software development team locally.

But Spectrum has warned it will take time for WEL’s sales to deliver returns to shareholders as it continues to reinvest profits to fund exporting activities.

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