By Phil Boeyen, ShareChat Business News Editor
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Friday 15th March 2002 |
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The net profit figure compares with a loss the previous year of $379,000. Earnings before interest, tax, depreciation, share of associate company losses, and amortisation was $414,000 on sales of $3.508 million. Ebitda the previous year was $478,000 for the seven months ended December 2000 on sales $3.419 million.
Cadmus MD, Ian Bailey, says the company consolidated its gains in the New Zealand payment solutions market during the half year and started to build a presence in the Australasian and Asia Pacific markets.
"We have invested in developing unique products to meet the evolving needs of these wider markets, basing our efforts on products and technologies that we have proven in the relatively advanced New Zealand industry.
"Our sales channels are now beginning to deliver results and the company's sales growth has also been matched by operational efficiencies leaving us in a good position to meet our targets during the second half."
Mr Bailey says the company is now New Zealand's largest exporter of payment solution products and has current orders on the books for over $2 million and further agreements pending,
"To implement its international strategy, Cadmus also plans to review and undertake strategies to fund this growth. This includes the recently approved First Secured Notes offer which will be released to the market shortly."
Cadmus says it remains on the lookout to acquire profitable payment technology and data management companies in the medium term.
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