Manaccom profits up 34 percent

By on
Manaccom profits up 34 percent

It claims the results are due to a 22 percent growth in the Online Division and a 20 percent growth in the Software Publishing and Distribution Division.

The audited results for the six months to December 2008 include revenue of $23.5 million, EBITDA of $1.9 million and a net profit after tax of $1.0 million.

"Both divisions performed extremely well and have bucked the general trend with a strong result", said Mike Veverka CEO Manaccom

"January trading has been strong providing a robust foundation from which to grow the business as well as the recent acquisition of Star System Solutions", he added.

According to Ian Mackay, CEO Manaccom (publishing and software division), it was able to capitalise on the surge of sales of Netbooks with a range of software distributed on USB keys.

He said January was one of its best months thanks to retailers restocking after the strong retail sales over the Christmas New Year period.

Manaccom's online division, recently announced it has signed a five-year agreement with NSW Lotteries Corporation appointing a Manaccom division, OzLotteries.com, as its exclusive online selling agent.

The half year to December 2007 results include four months of trading from Manaccom Pty Ltd which was acquired in August 2007. The half year December 2008 include six months of trading.

Got a news tip for our journalists? Share it with us anonymously here.
Tags:

Log in

Email:
Password:
  |  Forgot your password?