Fronde announces its half year result to September 2010

Fronde has reported a substantially improved profit result for the first half of the 2010 financial year. Profit after tax is $0.7m, a result of a significant re-shaping that was undertaken towards the end of the last financial year.

Fronde has reported a substantially improved profit result for first half of the 2010 financial year. Profit after tax is $0.7m (Full year 2009: Loss of $1.8m), a result of significant business re-shaping that was undertaken towards the end of the last financial year.

The Group's operating liquidity improved significantly during the six months, with nett working capital increasing to $0.6 million.

The Group's cash position continued to improve, closing the half year at $1.2 million, $0.4 million ahead of the position at 31 March 2010.

"Our operational focus has been to improve our working capital position and continue our momentum for growth," says Ian Clarke, CEO. " The re-shaping of our business for a sharper focus has resulted in revenue levels 40% higher than for the comparable six months of last year. Significant tender wins and and solid growth in Google sales in New Zealand and Australia are the main driver's".

Ian goes on to say " The key to our success is the strength of our customer relationships, the global partners that we work with and the commitment of our staff to deliver business outcomes".

For more detailed financial information, click here Fronde's Half Year Report 

16 November 2010