Stratatel 1H profit slumps 77% to $184.5k

Stratatel 1H profit slumps 77% to $184.5k

Software developer Stratatel’s (ASX:STE) net profit slumped 77% in 1H10, despite a 43% increase in revenue.

The company lifted its revenue to $6.1 million due to the acquisition of a business providing IBM software and licensing solutions to corporate clients.

But profit fell to $184,500, and ebitda fell 26% to $631,400. Statatel said these declines were down to a strategic decision to invest in sales, marketing and technical resources at the temporary expense of earnings.

Managing director Mike Fairclough said he expected revenue to increase going forward.

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