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!

Error: Please check your email address.

Tags softwareStratatelfinancial results

More about IBM AustraliaStratatel

Show Comments

Market Place

Computerworld
ARN
Techworld
CMO