Menu
Menu
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.

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

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags softwarefinancial resultsStratatel

More about IBM AustraliaStratatel

Show Comments