| March 5, 2010
Mixed outcomes
The reports flowing in for the six months to December 31 2009 are still mixed. The first half of the year has seen boards and management focus on improving processes and systems across their companies and take measures to mitigate exposure to risks associated with the slowing economy. Some vendors stressed stronger pipelines of prospective customers while others highlighted their recent acquisitions and the need to keep focusing on securing more acquisitions.
* RAZOR RISK TECHNOLOGIES (ASX: RZR) announced its first half net profit had increased to $A603,000, up more than 30 per cent on the corresponding period, on revenues of $A7.7 million. CEO Andrew Wood highlighted that decisive action had been taken to manage gross direct margins whilst investing in sales and marketing capabilities across all sales regions.
* MELBOURNE IT (ASX: MLB) reported that net profit after tax rose four per cent to $A16.8 million on revenue that increased eight per cent to $A200.1 million in the first half. MD and CEO Theo Hnavakis said tight controls had helped the company to meet its full year guidance.
* SYNERGY PLUS (ASX: SNR) recorded revenue of $A76.9 million for the half compared to $A74.5 million in the previous first half, an increase of three per cent. Profit before tax of $A1.55 million reflected a $A2.65 million turnaround. Acting CEO Peter Cappendell stated that the profit reflected the early success of the company's transformation project and the contributions from the Leading Solutions acquisition.
* MACQUARIE TELECOM (ASX: MAQ) reported a 67.5 per cent increase in net profit after tax of $A4.8 million on revenue of $A119.4 million. The company stated that it was entering the second half of 2010 in good shape to deliver strong full year results.
* DATA#3 (ASX: DTL) reported a record interim profit of $A4.7 million, up 17 per cent. Revenue was up 33 per cent to $A306.7 million. MD John Grant commented that financial conditions were improving but said he remained cautious.
* KEYCORP (ASX: KYC) recorded an after tax profit of $A3.7 million. A statement to the ASX noted that the result was a significant increase. Revenue also rose by 34 per cent.
* UXC (ASX: UXC) reported revenue growth of 15 per cent to $A380 million and an increase in net profit after tax of 177 per cent to $A3.2 million. The company said its outlook for the second half of the year was strongly supported by continued solid trading and a strong order pipeline.
* BRAVURA (ASX: BVA) reported a downturn in first half revenue down from $A72.9 million to $A53 million. The net loss of $A4.4 million was a major downturn from the $A2.64 million profit recorded a year ago.
* iiNET (ASX: IIN) lifted revenue 11.3 per cent to $A228 million with profit of $12.13 million up from $A11.4 million in the previous first half. The company is looking to buy ISPs on the east coast to expand its business.
* M2 COMMUNICATION (ASX: MTV) reported a 115 per cent year-on-year increase in revenue to $A188 million, and a rise net profit after tax of 156 per cent to $A8.2 million. CEO and MD Vaughan Bowen said the company was expanding its "brand family" -- which now includes People Telecom, Southern Cross, and Commander -- and was seeking to expand its wholesale business.
-- Len Rust RustOz@bigpond.com.au
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