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CSG posts 53% rise in H1 net profit

Strong revenue from New Zealand acquisition and increasing sales in the Australian print business

IT services company CSG has posted a 53 per cent rise in half year net profit and announced some management and board changes.

The technology provider on Tuesday reported a half year net profit of $18.8 million, after deducting minority interests, for the half year ending December 31, 2010.

The result is up 53 per cent on the $12.3 million net profit it reported in previous corresponding period.

CSG chief executive Denis MacKenzie said this was achieved on strong revenue from a New Zealand acquisition and increasing sales in the Australian print business.

"The NZ business is performing well and largely to expectation, with the growth in colour volumes yet to flow through fully," he said in a statement.

The company on Tuesday also appointed Josef Czyzewski to the position of non-executive director.

Mr Czyzewski replaces CSG's former director Andrew Kroger, who resigned on November 24 last year.

Mr Czyzewski has previously held a number of senior roles including six years as chief financial officer (CFO) of Healthscope Ltd and vice-president finance of mining giant BHP Billiton for 32 years.

Further changes to the company's top brass include CSG's CFO Kevin McLaine stepping down from his role in September this year.

Deputy CFO Guy Steel will step in to replace him, subject to board approval.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

More about: Andrew, BHP, BHP Billiton, CSG, Hewlett-Packard, HP

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